Trust Co. of Virginia VA increased its holdings in shares of AT&T Inc. (NYSE:T) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 305,918 shares of the technology company’s stock after acquiring an additional 2,082 shares during the quarter. AT&T makes up about 1.4% of Trust Co. of Virginia VA’s holdings, making the stock its 27th largest position. Trust Co. of Virginia VA’s holdings in AT&T were worth $9,823,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of T. SSI Investment Management Inc. raised its stake in shares of AT&T by 10.0% during the 2nd quarter. SSI Investment Management Inc. now owns 17,160 shares of the technology company’s stock valued at $549,000 after purchasing an additional 1,553 shares during the period. Tradewinds Capital Management LLC raised its stake in shares of AT&T by 27.0% during the 2nd quarter. Tradewinds Capital Management LLC now owns 7,332 shares of the technology company’s stock valued at $235,000 after purchasing an additional 1,560 shares during the period. Endurance Wealth Management Inc. raised its stake in shares of AT&T by 7.5% during the 2nd quarter. Endurance Wealth Management Inc. now owns 22,644 shares of the technology company’s stock valued at $728,000 after purchasing an additional 1,572 shares during the period. Wagner Bowman Management Corp raised its stake in shares of AT&T by 3.3% during the 2nd quarter. Wagner Bowman Management Corp now owns 49,723 shares of the technology company’s stock valued at $1,596,000 after purchasing an additional 1,573 shares during the period. Finally, Tiedemann Advisors LLC raised its stake in shares of AT&T by 8.1% during the 1st quarter. Tiedemann Advisors LLC now owns 21,192 shares of the technology company’s stock valued at $754,000 after purchasing an additional 1,587 shares during the period. Institutional investors and hedge funds own 64.81% of the company’s stock.
Several research firms recently commented on T. Raymond James cut AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 target price for the company. in a research report on Friday, July 13th. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Tuesday, July 17th. Scotiabank set a $33.00 target price on AT&T and gave the stock a “hold” rating in a research report on Monday, July 23rd. 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. 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 research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. AT&T currently has a consensus rating of “Hold” and an average price target of $37.86.
T opened at $30.69 on Friday. AT&T Inc. has a 12-month low of $28.85 and a 12-month high of $39.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $190.92 billion, a PE ratio of 9.04, a PEG ratio of 2.48 and a beta of 0.42.
AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). AT&T had a return on equity of 13.61% and a net margin of 20.40%. The firm had revenue of $45.74 billion during the quarter, compared to analysts’ expectations of $45.73 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. AT&T’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities research analysts expect that AT&T Inc. will post 3.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Tuesday, October 9th. AT&T’s payout ratio is currently 65.57%.
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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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