BCS Wealth Management grew its position in AT&T Inc. (NYSE:T) by 45.5% in the first quarter, HoldingsChannel.com reports. The fund owned 28,318 shares of the technology company’s stock after buying an additional 8,851 shares during the quarter. BCS Wealth Management’s holdings in AT&T were worth $857,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. OLD Mission Capital LLC acquired a new position in shares of AT&T in the 3rd quarter valued at $453,000. Private Trust Co. NA lifted its stake in AT&T by 2.7% in the 4th quarter. Private Trust Co. NA now owns 92,681 shares of the technology company’s stock valued at $2,665,000 after purchasing an additional 2,431 shares during the last quarter. Summit Financial Group Inc. raised its stake in shares of AT&T by 1.7% during the fourth quarter. Summit Financial Group Inc. now owns 52,814 shares of the technology company’s stock valued at $1,519,000 after acquiring an additional 874 shares during the last quarter. Trust Co. of Toledo NA OH raised its stake in shares of AT&T by 1.1% during the fourth quarter. Trust Co. of Toledo NA OH now owns 96,760 shares of the technology company’s stock valued at $2,783,000 after acquiring an additional 1,070 shares during the last quarter. Finally, ELM Advisors LLC acquired a new stake in AT&T in the fourth quarter worth $59,000. Institutional investors own 51.17% of the company’s stock.
A number of research firms recently weighed in on T. Credit Suisse Group dropped their price target on shares of AT&T from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 19th. CIBC reaffirmed a “buy” rating on shares of AT&T in a research note on Wednesday, February 10th. Barclays increased their price objective on shares of AT&T from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, April 23rd. Oppenheimer restated a “hold” rating on shares of AT&T in a research note on Monday, April 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $31.00 to $34.00 in a research note on Wednesday, April 28th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. AT&T currently has an average rating of “Hold” and a consensus price target of $31.43.
AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. The company had revenue of $43.90 billion for the quarter, compared to analyst estimates of $42.69 billion. AT&T had a net margin of 6.42% and a return on equity of 12.27%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 3.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Friday, April 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, April 8th. This represents a $2.08 dividend on an annualized basis and a yield of 6.56%. AT&T’s dividend payout ratio is presently 58.26%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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