Oak Asset Management LLC raised its position in AT&T Inc. (NYSE:T) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,313 shares of the technology company’s stock after purchasing an additional 4,463 shares during the quarter. AT&T accounts for about 1.6% of Oak Asset Management LLC’s holdings, making the stock its 21st biggest holding. Oak Asset Management LLC’s holdings in AT&T were worth $2,580,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Horan Securities Inc. grew its stake in AT&T by 439.2% in the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock valued at $34,000 after acquiring an additional 830 shares during the period. NuWave Investment Management LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $40,000. Contravisory Investment Management Inc. grew its stake in AT&T by 36.0% in the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after acquiring an additional 338 shares during the period. Smart Portfolios LLC grew its stake in AT&T by 44.8% in the fourth quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock valued at $46,000 after acquiring an additional 500 shares during the period. Finally, Centaurus Financial Inc. grew its stake in AT&T by 24.4% in the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after acquiring an additional 333 shares during the period. Hedge funds and other institutional investors own 52.93% of the company’s stock.
A number of equities research analysts have commented on T shares. Bank of America reissued a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research note on Monday, June 24th. Desjardins reissued an “average” rating and issued a $55.50 price objective on shares of AT&T in a research note on Tuesday. Morgan Stanley reissued a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research note on Thursday, August 1st. Cowen raised their price objective on AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Credit Suisse Group raised AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.72.
AT&T stock remained flat at $$34.54 during mid-day trading on Friday. The company had a trading volume of 21,611,423 shares, compared to its average volume of 33,279,116. The company has a 50 day moving average of $33.54. The firm has a market capitalization of $248.88 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 2.13 and a beta of 0.62. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $34.64. 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 (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.89. The business had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. AT&T’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. On average, analysts forecast that AT&T Inc. will post 3.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.51 per share. The ex-dividend date was Tuesday, July 9th. This represents a $2.04 dividend on an annualized basis and a yield of 5.91%. AT&T’s dividend payout ratio (DPR) is currently 57.95%.
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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