Sicart Associates LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 4.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 294,094 shares of the technology company’s stock after acquiring an additional 11,324 shares during the period. AT&T comprises 2.8% of Sicart Associates LLC’s holdings, making the stock its 10th largest holding. Sicart Associates LLC’s holdings in AT&T were worth $8,890,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Lion Street Advisors LLC bought a new position in AT&T during the first quarter worth $27,000. Horan Securities Inc. bought a new position in AT&T during the first quarter worth $28,000. CBIZ Investment Advisory Services LLC raised its stake in AT&T by 186.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock worth $28,000 after buying an additional 623 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in AT&T during the first quarter worth $34,000. Finally, Efficient Wealth Management LLC bought a new position in AT&T during the first quarter worth $35,000. 53.74% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on T shares. Morgan Stanley lowered their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Zacks Investment Research cut shares of AT&T from a “hold” rating to a “sell” rating and set a $33.00 price target for the company. in a report on Wednesday, May 27th. Cfra reduced their price target on shares of AT&T from $42.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Guggenheim reduced their price target on shares of AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, Wells Fargo & Co reduced their price target on shares of AT&T from $36.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, April 3rd. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.29.
AT&T (NYSE:T) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The business had revenue of $40.95 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the previous year, the company earned $0.89 earnings per share. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 3.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.03%. The ex-dividend date of this dividend is Thursday, July 9th. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
In other news, Director Stephen J. Luczo purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were acquired at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is currently owned by insiders.
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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