McIlrath & Eck LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 324.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,733 shares of the technology company’s stock after purchasing an additional 12,030 shares during the quarter. AT&T comprises approximately 0.3% of McIlrath & Eck LLC’s investment portfolio, making the stock its 16th biggest position. McIlrath & Eck LLC’s holdings in AT&T were worth $595,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in T. Nuveen Asset Management LLC boosted its position in shares of AT&T by 1,723.1% in the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock valued at $1,543,169,000 after acquiring an additional 43,525,113 shares during the period. Vanguard Group Inc. boosted its position in shares of AT&T by 1.2% in the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock valued at $18,879,489,000 after acquiring an additional 6,744,699 shares during the period. Morgan Stanley boosted its position in shares of AT&T by 11.2% in the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock valued at $1,979,052,000 after acquiring an additional 5,931,167 shares during the period. California Public Employees Retirement System lifted its position in AT&T by 18.1% during the third quarter. California Public Employees Retirement System now owns 28,020,401 shares of the technology company’s stock worth $1,060,292,000 after purchasing an additional 4,292,231 shares during the period. Finally, Covenant Multifamily Offices LLC bought a new stake in AT&T during the second quarter worth about $81,364,000. 52.94% of the stock is owned by institutional investors.
NYSE T traded down $0.04 during trading on Friday, hitting $39.38. 18,270,257 shares of the company’s stock were exchanged, compared to its average volume of 30,604,307. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The company has a market cap of $287.75 billion, a PE ratio of 11.19, a P/E/G ratio of 2.47 and a beta of 0.64. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $39.58. The stock’s 50 day moving average price is $37.87 and its two-hundred day moving average price is $34.45.
AT&T (NYSE:T) last issued its earnings results on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $44.59 billion during the quarter, compared to the consensus estimate of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Analysts forecast that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend was Wednesday, October 9th. AT&T’s payout ratio is 57.95%.
Several research firms recently weighed in on T. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. ValuEngine cut shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. UBS Group upped their price objective on shares of AT&T from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, National Bank Financial upped their price objective on shares of AT&T from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $40.74.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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