Park Avenue Securities LLC lifted its position in AT&T Inc. (NYSE:T) by 27.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 77,839 shares of the technology company’s stock after purchasing an additional 16,639 shares during the period. AT&T comprises approximately 0.4% of Park Avenue Securities LLC’s portfolio, making the stock its 19th biggest holding. Park Avenue Securities LLC’s holdings in AT&T were worth $2,507,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of T. GHP Investment Advisors Inc. boosted its holdings in AT&T by 1.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 124,950 shares of the technology company’s stock valued at $4,858,000 after acquiring an additional 1,566 shares in the last quarter. Tiedemann Advisors LLC lifted its position in AT&T by 8.1% during the first quarter. Tiedemann Advisors LLC now owns 21,192 shares of the technology company’s stock valued at $754,000 after buying an additional 1,587 shares during the period. Vivaldi Capital Management LLC lifted its position in AT&T by 19.4% during the first quarter. Vivaldi Capital Management LLC now owns 9,984 shares of the technology company’s stock valued at $356,000 after buying an additional 1,619 shares during the period. Versant Capital Management Inc lifted its position in AT&T by 11.0% during the second quarter. Versant Capital Management Inc now owns 16,417 shares of the technology company’s stock valued at $527,000 after buying an additional 1,626 shares during the period. Finally, Quadrant Private Wealth Management LLC lifted its position in AT&T by 10.8% during the first quarter. Quadrant Private Wealth Management LLC now owns 17,170 shares of the technology company’s stock valued at $612,000 after buying an additional 1,670 shares during the period. Hedge funds and other institutional investors own 64.63% of the company’s stock.
In other AT&T news, Director Matthew K. Rose bought 65,500 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was acquired at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the transaction, the director now owns 81,319 shares in the company, valued at $2,481,042.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was acquired at an average cost of $32.48 per share, with a total value of $249,771.20. Following the transaction, the director now owns 31,405 shares in the company, valued at approximately $1,020,034.40. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.
AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $38.99 billion during the quarter, compared to analyst estimates of $38.45 billion. AT&T had a return on equity of 13.64% and a net margin of 20.12%. AT&T’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. Sell-side analysts forecast that AT&T Inc. will post 3.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.86%. The ex-dividend date is Tuesday, October 9th. AT&T’s dividend payout ratio is presently 65.57%.
T has been the subject of several recent research reports. Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Bank of America raised AT&T from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, July 30th. They noted that the move was a valuation call. Credit Suisse Group initiated coverage on AT&T in a research report on Tuesday, July 10th. They set an “underperform” rating and a $29.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and set a $37.00 price objective on shares of AT&T in a research report on Wednesday, June 27th. Finally, Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research report on Wednesday, June 13th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.09.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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