Cedar Capital LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 82.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,964 shares of the technology company’s stock after buying an additional 10,378 shares during the period. Cedar Capital LLC’s holdings in AT&T were worth $737,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of T. SSI Investment Management Inc. grew its stake in shares of AT&T by 10.0% in the second quarter. SSI Investment Management Inc. now owns 17,160 shares of the technology company’s stock worth $549,000 after acquiring an additional 1,553 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in shares of AT&T by 27.0% in the second quarter. Tradewinds Capital Management LLC now owns 7,332 shares of the technology company’s stock worth $235,000 after acquiring an additional 1,560 shares during the last quarter. Endurance Wealth Management Inc. grew its stake in shares of AT&T by 7.5% in the second quarter. Endurance Wealth Management Inc. now owns 22,644 shares of the technology company’s stock worth $728,000 after acquiring an additional 1,572 shares during the last quarter. Wagner Bowman Management Corp grew its stake in shares of AT&T by 3.3% in the second quarter. Wagner Bowman Management Corp now owns 49,723 shares of the technology company’s stock worth $1,596,000 after acquiring an additional 1,573 shares during the last quarter. Finally, Tiedemann Advisors LLC grew its stake in shares of AT&T by 8.1% in the first quarter. Tiedemann Advisors LLC now owns 21,192 shares of the technology company’s stock worth $754,000 after acquiring an additional 1,587 shares during the last quarter. 64.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Michael B. Mccallister bought 4,000 shares of the stock in a transaction on Friday, October 26th. The shares were bought at an average price of $29.14 per share, with a total value of $116,560.00. Following the completion of the acquisition, the director now owns 7,361 shares in the company, valued at $214,499.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.
AT&T (NYSE:T) last announced its quarterly earnings results 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). The business had revenue of $45.74 billion for the quarter, compared to the consensus estimate of $45.73 billion. AT&T had a net margin of 20.40% and a return on equity of 13.61%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. On average, research analysts predict that AT&T Inc. will post 3.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date was Tuesday, October 9th. AT&T’s dividend payout ratio is 65.57%.
A number of equities research analysts have recently commented on the company. Raymond James cut AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 target price on the stock. in a research note on Friday, July 13th. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Tuesday, July 17th. Scotiabank set a $32.00 target price on AT&T and gave the stock a “hold” rating in a research note on Thursday, October 25th. Robert W. Baird cut their target price on AT&T from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Finally, ValuEngine raised AT&T from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $37.86.
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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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