Wintrust Investments LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 5.7% in the second quarter, Holdings Channel reports. The firm owned 117,250 shares of the technology company’s stock after selling 7,105 shares during the quarter. Wintrust Investments LLC’s holdings in AT&T were worth $3,374,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in T. Brighton Jones LLC boosted its stake in AT&T by 7.0% during the 2nd quarter. Brighton Jones LLC now owns 59,081 shares of the technology company’s stock valued at $1,700,000 after purchasing an additional 3,876 shares during the last quarter. World Asset Management Inc boosted its stake in AT&T by 2.1% during the 2nd quarter. World Asset Management Inc now owns 304,349 shares of the technology company’s stock valued at $8,759,000 after purchasing an additional 6,325 shares during the last quarter. Isthmus Partners LLC lifted its stake in AT&T by 1.1% during the 2nd quarter. Isthmus Partners LLC now owns 281,273 shares of the technology company’s stock valued at $8,095,000 after acquiring an additional 3,122 shares during the period. CapWealth Advisors LLC boosted its holdings in shares of AT&T by 7.3% during the 2nd quarter. CapWealth Advisors LLC now owns 645,291 shares of the technology company’s stock valued at $18,571,000 after acquiring an additional 43,962 shares during the last quarter. Finally, One Charles Private Wealth Services LLC bought a new stake in shares of AT&T in the second quarter worth approximately $281,000. Institutional investors and hedge funds own 51.61% of the company’s stock.
Several brokerages recently issued reports on T. Scotiabank upgraded shares of AT&T from a “sector underperform” rating to a “sector perform” rating and raised their target price for the stock from $28.00 to $31.00 in a report on Wednesday, June 16th. Morgan Stanley downgraded AT&T to an “equal weight” rating and set a $29.00 price target on the stock. in a research note on Friday, July 16th. Royal Bank of Canada started coverage on AT&T in a report on Thursday, July 22nd. They issued a “hold” rating and a $30.00 price objective for the company. Redburn Partners assumed coverage on AT&T in a report on Friday, June 25th. They issued a “sell” rating and a $23.00 target price on the stock. Finally, Tigress Financial restated a “buy” rating and set a $36.00 price target on shares of AT&T in a research note on Friday, July 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.16.
AT&T (NYSE:T) last released its earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. AT&T had a negative net margin of 1.11% and a positive return on equity of 12.78%. The company had revenue of $44.05 billion for the quarter, compared to analysts’ expectations of $42.39 billion. During the same quarter in the previous year, the company earned $0.83 EPS. AT&T’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts forecast that AT&T Inc. will post 3.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.54%. The ex-dividend date was Thursday, July 8th. AT&T’s dividend payout ratio (DPR) is presently 65.41%.
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.
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