Foothills Asset Management Ltd. Grows Stock Holdings in AT&T Inc. (NYSE:T)

Foothills Asset Management Ltd. grew its holdings in shares of AT&T Inc. (NYSE:T) by 94.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 90,618 shares of the technology company’s stock after purchasing an additional 43,924 shares during the period. Foothills Asset Management Ltd.’s holdings in AT&T were worth $3,037,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in T. Nordea Investment Management AB grew its stake in AT&T by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock worth $610,299,000 after buying an additional 3,097,958 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of AT&T by 140.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,387,550 shares of the technology company’s stock worth $96,681,000 after purchasing an additional 1,978,124 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of AT&T by 15.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 10,869,000 shares of the technology company’s stock worth $310,201,000 after purchasing an additional 1,485,000 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of AT&T by 3,227.3% during the second quarter. Thoroughbred Financial Services LLC now owns 1,265,484 shares of the technology company’s stock worth $126,548,000 after purchasing an additional 1,227,451 shares in the last quarter. Finally, QV Investors Inc. lifted its position in shares of AT&T by 28.9% during the fourth quarter. QV Investors Inc. now owns 3,684,706 shares of the technology company’s stock worth $105,161,000 after purchasing an additional 826,700 shares in the last quarter. Institutional investors own 52.91% of the company’s stock.

T opened at $34.18 on Wednesday. The firm has a market capitalization of $249.23 billion, a PE ratio of 9.71, a PEG ratio of 2.14 and a beta of 0.61. The company has a fifty day moving average of $33.18. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $34.64.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. On average, sell-side analysts predict that AT&T Inc. will post 3.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.04 annualized dividend and a yield of 5.97%. AT&T’s payout ratio is 57.95%.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

A number of research analysts have recently commented on T shares. Raymond James boosted their target price on shares of Spotify Technology from $172.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Credit Suisse Group reissued a “buy” rating and set a $425.00 target price on shares of Boeing in a research report on Thursday, July 25th. Cowen reissued a “hold” rating and set a $119.00 target price on shares of Landstar System in a research report on Thursday, July 25th. ValuEngine raised shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Desjardins reissued an “average” rating and set a $90.00 target price on shares of MFS California Municipal Fund in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $36.77.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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