Eagle Asset Management Inc. Boosts Stake in AT&T Inc. (T)

Eagle Asset Management Inc. grew its stake in shares of AT&T Inc. (NYSE:T) by 39.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,856,033 shares of the technology company’s stock after acquiring an additional 1,087,382 shares during the period. AT&T comprises about 0.7% of Eagle Asset Management Inc.’s holdings, making the stock its 21st biggest position. Eagle Asset Management Inc. owned about 0.06% of AT&T worth $123,817,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. CKW Financial Group raised its position in shares of AT&T by 105.0% during the 2nd 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 last quarter. Braun Bostich & Associates Inc. acquired a new position in shares of AT&T during the 1st quarter worth approximately $137,000. Elmwood Wealth Management Inc. acquired a new position in shares of AT&T during the 1st quarter worth approximately $178,000. Cerebellum GP LLC acquired a new position in shares of AT&T during the 2nd quarter worth approximately $178,000. Finally, Bristol John W & Co. Inc. NY acquired a new position in shares of AT&T during the 1st quarter worth approximately $201,000. Institutional investors own 64.81% of the company’s stock.

Shares of NYSE T opened at $30.69 on Friday. AT&T Inc. has a 52-week low of $28.85 and a 52-week high of $39.33. The firm has a market cap of $190.06 billion, a PE ratio of 10.06, a P/E/G ratio of 2.47 and a beta of 0.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The company had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 3.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 6.52%. AT&T’s dividend payout ratio is presently 65.57%.

In related news, Director Michael B. Mccallister acquired 4,000 shares of the stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $29.14 per share, with a total value of $116,560.00. Following the purchase, the director now directly owns 7,361 shares of the company’s stock, valued at $214,499.54. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is owned by insiders.

Several analysts have commented on the stock. Bank of America set a $37.00 target price on shares of AT&T and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. ValuEngine raised shares of AT&T from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Tuesday, July 24th. Raymond James cut shares of AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 target price for the company. in a research note on Friday, July 13th. Finally, Macquarie reaffirmed a “buy” rating and issued a $35.00 target price on shares of AT&T in a research note on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. AT&T currently has an average rating of “Hold” and an average target price of $37.86.

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About AT&T

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

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