Truvestments Capital LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,497 shares of the technology company’s stock after acquiring an additional 4,028 shares during the period. AT&T comprises 1.7% of Truvestments Capital LLC’s holdings, making the stock its 12th largest position. Truvestments Capital LLC’s holdings in AT&T were worth $2,630,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its holdings in AT&T by 1,723.1% in the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock valued at $1,543,169,000 after purchasing an additional 43,525,113 shares during the period. Vanguard Group Inc. grew its holdings in AT&T by 1.2% in the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock valued at $18,879,489,000 after purchasing an additional 6,744,699 shares during the period. Morgan Stanley grew its holdings in AT&T by 11.2% in the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock valued at $1,979,052,000 after purchasing an additional 5,931,167 shares during the period. Nordea Investment Management AB grew its holdings in AT&T by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after purchasing an additional 3,097,958 shares during the period. Finally, Covenant Multifamily Offices LLC acquired a new stake in AT&T in the second quarter valued at approximately $81,364,000. 53.02% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by insiders.
T has been the topic of several research analyst reports. ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. set a $39.00 target price on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. Barclays lifted their price objective on shares of AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. They noted that the move was a valuation call. Cowen set a $40.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Oppenheimer set a $41.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. AT&T has a consensus rating of “Buy” and an average target price of $38.43.
AT&T stock traded up $0.09 on Friday, reaching $37.51. 454,856 shares of the stock were exchanged, compared to its average volume of 33,095,766. The stock has a market cap of $273.43 billion, a PE ratio of 10.65, a PEG ratio of 2.36 and a beta of 0.63. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. AT&T Inc. has a twelve month low of $26.80 and a twelve month high of $38.75. The firm has a fifty day moving average price of $36.67 and a two-hundred day moving average price of $33.53.
AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.89. The firm had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. Equities analysts anticipate that AT&T Inc. will post 3.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date is Wednesday, October 9th. AT&T’s dividend payout ratio is 57.95%.
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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