Bollard Group LLC lifted its stake in AT&T Inc. (NYSE:T) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 588,198 shares of the technology company’s stock after acquiring an additional 8,559 shares during the quarter. AT&T accounts for about 0.9% of Bollard Group LLC’s investment portfolio, making the stock its 17th largest holding. Bollard Group LLC’s holdings in AT&T were worth $18,887,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Price Wealth Management Inc. grew its position in AT&T by 165.1% during the second quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock valued at $106,000 after buying an additional 2,064 shares during the period. CKW Financial Group boosted its position in shares of AT&T by 105.0% in the second 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 period. Braun Bostich & Associates Inc. bought a new position in shares of AT&T in the first quarter worth approximately $137,000. Cerebellum GP LLC bought a new position in shares of AT&T in the second quarter worth approximately $178,000. Finally, Bristol John W & Co. Inc. NY bought a new position in shares of AT&T in the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 63.84% of the company’s stock.
A number of research firms have weighed in on T. Argus reiterated a “buy” rating and issued a $48.00 price target on shares of AT&T in a research report on Friday, October 26th. Deutsche Bank upped their price target on shares of AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, September 24th. UBS Group upgraded shares of AT&T from a “neutral” rating to a “buy” rating and upped their price target for the stock from $33.00 to $38.00 in a research report on Friday, September 21st. They noted that the move was a valuation call. Bank of America reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 21st. Finally, Zacks Investment Research lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.35.
AT&T (NYSE:T) last released its earnings results on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.04). The company had revenue of $45.74 billion during the quarter, compared to analysts’ expectations of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. AT&T’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. On average, equities research analysts predict that AT&T Inc. will post 3.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date of this dividend was Tuesday, October 9th. AT&T’s payout ratio is 65.57%.
In other AT&T news, Director Michael B. Mccallister purchased 4,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now directly owns 7,361 shares in the company, valued at $214,499.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by corporate insiders.
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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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