Convergence Investment Partners LLC lifted its position in AT&T Inc. (NYSE:T) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,091 shares of the technology company’s stock after acquiring an additional 15,929 shares during the period. AT&T comprises approximately 2.1% of Convergence Investment Partners LLC’s holdings, making the stock its 2nd largest position. Convergence Investment Partners LLC’s holdings in AT&T were worth $6,230,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC grew its position in AT&T by 417.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 19,992 shares of the technology company’s stock valued at $781,000 after purchasing an additional 16,125 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in AT&T by 17.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,231 shares of the technology company’s stock valued at $356,000 after purchasing an additional 1,800 shares in the last quarter. Stillwater Investment Management LLC grew its position in AT&T by 11.1% during the first quarter. Stillwater Investment Management LLC now owns 11,848 shares of the technology company’s stock valued at $345,000 after purchasing an additional 1,186 shares in the last quarter. IMS Capital Management grew its position in AT&T by 65.6% during the first quarter. IMS Capital Management now owns 31,122 shares of the technology company’s stock valued at $907,000 after purchasing an additional 12,326 shares in the last quarter. Finally, Wiley BROS. Aintree Capital LLC grew its position in AT&T by 55.6% during the first quarter. Wiley BROS. Aintree Capital LLC now owns 18,674 shares of the technology company’s stock valued at $544,000 after purchasing an additional 6,670 shares in the last quarter. 53.74% of the stock is currently owned by institutional investors and hedge funds.
T has been the topic of a number of research analyst reports. Scotiabank boosted their price objective on shares of AT&T from $33.00 to $34.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Deutsche Bank reduced their target price on shares of AT&T from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Nomura reduced their target price on shares of AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Royal Bank of Canada reduced their target price on shares of AT&T from $38.00 to $32.00 in a research note on Friday, July 24th. Finally, Zacks Investment Research cut shares of AT&T from a “hold” rating to a “sell” rating and set a $33.00 target price for the company. in a research note on Wednesday, May 27th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $35.29.
NYSE T traded up $0.01 on Friday, hitting $29.58. 38,694,208 shares of the company were exchanged, compared to its average volume of 32,539,284. The firm has a 50 day moving average of $30.01 and a two-hundred day moving average of $32.47. The company has a market cap of $212.40 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.67 and a beta of 0.72. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. AT&T Inc. has a 1-year low of $26.08 and a 1-year high of $39.70.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.04. The business had revenue of $40.95 billion for the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. Research analysts anticipate that AT&T Inc. will post 3.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, July 9th. This represents a $2.08 dividend on an annualized basis and a yield of 7.03%. AT&T’s payout ratio is presently 58.26%.
In other AT&T news, Director Stephen J. Luczo bought 100,000 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were bought at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.
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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