Perpetual Ltd reduced its stake in AT&T Inc. (NYSE:T – Free Report) by 21.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,488 shares of the technology company’s stock after selling 55,307 shares during the period. Perpetual Ltd’s holdings in AT&T were worth $4,455,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Riggs Asset Managment Co. Inc. grew its position in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. Pineridge Advisors LLC purchased a new stake in AT&T in the fourth quarter worth about $25,000. American Capital Advisory LLC increased its stake in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of AT&T during the second quarter valued at approximately $30,000. Finally, Marquette Asset Management LLC purchased a new position in shares of AT&T during the third quarter valued at approximately $36,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently weighed in on T. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada increased their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Evercore ISI increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Finally, Oppenheimer lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $22.38.
AT&T Trading Down 3.2 %
AT&T stock opened at $21.23 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market cap of $152.22 billion, a P/E ratio of 12.20, a P/E/G ratio of 3.74 and a beta of 0.60. The business has a 50-day simple moving average of $20.64 and a two-hundred day simple moving average of $18.77. AT&T Inc. has a 52-week low of $14.23 and a 52-week high of $22.34.
AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the company posted $0.63 EPS. The company’s revenue was down .3% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.22 EPS for the current year.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 63.79%.
AT&T Company Profile
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.
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