SlateStone Wealth LLC increased its position in shares of AT&T Inc. (NYSE:T) by 93.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,563 shares of the technology company’s stock after acquiring an additional 15,255 shares during the period. SlateStone Wealth LLC’s holdings in AT&T were worth $1,194,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its holdings in AT&T by 1,723.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after purchasing an additional 43,525,113 shares during the period. Vanguard Group Inc. increased its holdings in AT&T by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock worth $18,879,489,000 after purchasing an additional 6,744,699 shares during the period. Morgan Stanley increased its holdings in AT&T by 11.2% during the 2nd quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock worth $1,979,052,000 after purchasing an additional 5,931,167 shares during the period. California Public Employees Retirement System increased its holdings in AT&T by 18.1% during the 3rd quarter. California Public Employees Retirement System now owns 28,020,401 shares of the technology company’s stock worth $1,060,292,000 after purchasing an additional 4,292,231 shares during the period. Finally, Covenant Multifamily Offices LLC purchased a new stake in AT&T during the 2nd quarter worth about $81,364,000. 52.94% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on T. JPMorgan Chase & Co. upped their price target on AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Standpoint Research downgraded AT&T from a “buy” rating to a “hold” rating in a report on Friday, November 1st. ValuEngine downgraded AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Raymond James reiterated a “buy” rating and issued a $45.00 price objective (up previously from $40.00) on shares of AT&T in a report on Tuesday, October 29th. Finally, DZ Bank reiterated a “hold” rating and issued a $38.00 price objective on shares of AT&T in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.74.
Shares of NYSE T traded down $0.01 during trading hours on Monday, reaching $39.37. The stock had a trading volume of 13,573,005 shares, compared to its average volume of 30,526,025. The firm has a market cap of $287.68 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 2.47 and a beta of 0.64. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $39.58. The firm has a 50-day moving average of $37.87 and a 200-day moving average of $34.45.
AT&T (NYSE:T) last announced its earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The firm had revenue of $44.59 billion during the quarter, compared to analysts’ expectations of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. On average, equities analysts predict that AT&T Inc. will post 3.57 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.51 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.18%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
AT&T Company Profile
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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