Klingenstein Fields & Co. LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 840,281 shares of the technology company’s stock after acquiring an additional 12,094 shares during the period. Klingenstein Fields & Co. LLC’s holdings in AT&T were worth $28,217,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price Wealth Management Inc. boosted its position in AT&T by 165.1% in the 2nd quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock valued at $106,000 after buying an additional 2,064 shares during the last quarter. Chessman Wealth Strategies RIA bought a new position in AT&T in the 3rd quarter valued at $114,000. Hoertkorn Richard Charles boosted its position in AT&T by 66.7% in the 3rd quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock valued at $168,000 after buying an additional 2,000 shares during the last quarter. Lenox Wealth Management Inc. boosted its position in AT&T by 184.6% in the 3rd quarter. Lenox Wealth Management Inc. now owns 5,769 shares of the technology company’s stock valued at $194,000 after buying an additional 3,742 shares during the last quarter. Finally, ELM Advisors LLC bought a new position in AT&T in the 3rd quarter valued at $195,000. Institutional investors and hedge funds own 63.31% of the company’s stock.
Several research analysts have recently issued reports on the company. Moffett Nathanson upgraded AT&T from a “sell” rating to a “neutral” rating and set a $28.00 price target on the stock in a research report on Monday, November 26th. Bank of America set a $37.00 price target on AT&T and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Tigress Financial upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. Barclays set a $33.00 price target on AT&T and gave the stock a “hold” rating in a research report on Wednesday, October 10th. Finally, Robert W. Baird reduced their price target on AT&T from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.89.
In related news, CEO John T. Stankey sold 3,748 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $29.84, for a total transaction of $111,840.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.
Shares of AT&T stock opened at $29.63 on Wednesday. The firm has a market cap of $181.78 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 1.27 and a beta of 0.54. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $37.81. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.81 and a current ratio of 0.80.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.86 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.86. The business had revenue of $47.99 billion for the quarter, compared to the consensus estimate of $48.50 billion. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, analysts expect that AT&T Inc. will post 3.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Thursday, January 10th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend was Wednesday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.50. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
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AT&T Company Profile
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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