Texas Yale Capital Corp. increased its holdings in shares of AT&T Inc. (NYSE:T) by 148.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,243 shares of the technology company’s stock after purchasing an additional 118,568 shares during the quarter. AT&T makes up 0.5% of Texas Yale Capital Corp.’s portfolio, making the stock its 27th biggest holding. Texas Yale Capital Corp.’s holdings in AT&T were worth $6,366,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Nicholas Hoffman & Company LLC. grew its position in shares of AT&T by 28.2% during the second quarter. Nicholas Hoffman & Company LLC. now owns 78,618 shares of the technology company’s stock worth $2,524,000 after purchasing an additional 17,299 shares in the last quarter. Greenleaf Trust grew its position in shares of AT&T by 77.6% during the second quarter. Greenleaf Trust now owns 63,338 shares of the technology company’s stock worth $2,034,000 after purchasing an additional 27,670 shares in the last quarter. Stellar Capital Management LLC grew its position in shares of AT&T by 733.8% during the second quarter. Stellar Capital Management LLC now owns 62,226 shares of the technology company’s stock worth $1,998,000 after purchasing an additional 54,763 shares in the last quarter. Kellner Capital LLC purchased a new stake in shares of AT&T during the second quarter worth about $2,405,000. Finally, Letko Brosseau & Associates Inc. grew its position in shares of AT&T by 1.6% during the second quarter. Letko Brosseau & Associates Inc. now owns 5,652,714 shares of the technology company’s stock worth $181,509,000 after purchasing an additional 86,870 shares in the last quarter. Hedge funds and other institutional investors own 64.81% of the company’s stock.
Several analysts recently issued reports on T shares. Zacks Investment Research cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Bank of America upgraded AT&T from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, July 30th. They noted that the move was a valuation call. Argus reiterated a “buy” rating and set a $48.00 target price on shares of AT&T in a research report on Friday, October 26th. Macquarie reiterated a “buy” rating and set a $35.00 target price on shares of AT&T in a research report on Wednesday, September 12th. Finally, Wells Fargo & Co cut AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 target price for the company. in a research report on Wednesday, August 22nd. 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 given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $37.86.
AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.04). The firm had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. AT&T had a net margin of 20.40% and a return on equity of 13.61%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, research analysts forecast that AT&T Inc. will post 3.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend was Tuesday, October 9th. AT&T’s dividend payout ratio is presently 65.57%.
In other news, Director Michael B. Mccallister purchased 4,000 shares of the business’s stock in a transaction on Friday, October 26th. The stock was acquired at an average price of $29.14 per share, for a total transaction of $116,560.00. Following the acquisition, the director now directly owns 7,361 shares of the company’s stock, valued at approximately $214,499.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.
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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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