Pittenger & Anderson Inc. boosted its position in shares of AT&T Inc. (NYSE:T – Get Rating) by 109.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,065 shares of the technology company’s stock after purchasing an additional 4,730 shares during the period. Pittenger & Anderson Inc.’s holdings in AT&T were worth $190,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in T. Barber Financial Group Inc. raised its stake in shares of AT&T by 1.1% during the 1st quarter. Barber Financial Group Inc. now owns 39,438 shares of the technology company’s stock worth $932,000 after acquiring an additional 424 shares in the last quarter. Vectors Research Management LLC increased its stake in shares of AT&T by 2.0% in the fourth quarter. Vectors Research Management LLC now owns 24,123 shares of the technology company’s stock worth $593,000 after acquiring an additional 474 shares during the period. Somerset Trust Co increased its stake in shares of AT&T by 1.2% in the first quarter. Somerset Trust Co now owns 41,360 shares of the technology company’s stock worth $977,000 after acquiring an additional 474 shares during the period. Corsicana & Co. boosted its holdings in AT&T by 14.4% during the second quarter. Corsicana & Co. now owns 3,975 shares of the technology company’s stock worth $83,000 after buying an additional 500 shares in the last quarter. Finally, Meridian Wealth Partners LLC boosted its holdings in AT&T by 5.3% during the fourth quarter. Meridian Wealth Partners LLC now owns 10,550 shares of the technology company’s stock worth $259,000 after buying an additional 528 shares in the last quarter. 52.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have issued reports on T. Tigress Financial decreased their price objective on shares of AT&T from $31.00 to $28.00 in a report on Thursday, June 16th. Wolfe Research cut their price objective on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. Truist Financial dropped their price target on shares of AT&T to $21.00 in a research report on Friday, July 22nd. Cowen dropped their price target on shares of AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, July 22nd. Finally, StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Hold” and an average target price of $23.41.
AT&T Trading Down 0.1 %
AT&T (NYSE:T – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The company had revenue of $29.64 billion during the quarter, compared to the consensus estimate of $29.48 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.54 earnings per share for the current year.
AT&T Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date was Friday, July 8th. AT&T’s dividend payout ratio is currently 40.81%.
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
- Get a free copy of the StockNews.com research report on AT&T (T)
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