Reynders McVeigh Capital Management LLC raised its position in AT&T Inc. (NYSE:T) by 45.1% during the second quarter, HoldingsChannel reports. The firm owned 43,250 shares of the technology company’s stock after purchasing an additional 13,434 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in AT&T were worth $1,389,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Price Wealth Management Inc. increased its position in shares of AT&T by 165.1% during the 2nd quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock worth $106,000 after purchasing an additional 2,064 shares during the last quarter. CKW Financial Group increased its position in shares of AT&T by 105.0% during the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after purchasing an additional 2,159 shares during the last quarter. Braun Bostich & Associates Inc. acquired a new stake in shares of AT&T during the 1st quarter worth about $137,000. Elmwood Wealth Management Inc. acquired a new stake in shares of AT&T during the 1st quarter worth about $178,000. Finally, Cerebellum GP LLC acquired a new stake in shares of AT&T during the 2nd quarter worth about $178,000. Institutional investors own 63.84% of the company’s stock.
In other news, Director Michael B. Mccallister bought 4,000 shares of the company’s stock in a transaction on Friday, October 26th. The stock was bought at an average cost of $29.14 per share, with a total value of $116,560.00. Following the transaction, the director now directly owns 7,361 shares in the company, valued at approximately $214,499.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.
NYSE T opened at $29.36 on Friday. The stock has a market capitalization of $182.76 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 2.38 and a beta of 0.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. AT&T Inc. has a 1-year low of $28.85 and a 1-year high of $39.33.
AT&T (NYSE:T) last released its 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 during the quarter, compared to analyst estimates of $45.73 billion. AT&T had a net margin of 20.40% and a return on equity of 13.61%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, sell-side analysts forecast 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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.81%. The ex-dividend date was Tuesday, October 9th. AT&T’s dividend payout ratio is currently 65.57%.
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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