Coastline Trust Co lessened its stake in AT&T Inc. (NYSE:T – Free Report) by 24.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,039 shares of the technology company’s stock after selling 8,240 shares during the quarter. Coastline Trust Co’s holdings in AT&T were worth $415,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in T. Axiom Financial Strategies LLC increased its holdings in shares of AT&T by 12.2% in the first quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company’s stock worth $342,000 after acquiring an additional 1,941 shares in the last quarter. Roundview Capital LLC increased its holdings in shares of AT&T by 62.3% in the first quarter. Roundview Capital LLC now owns 24,628 shares of the technology company’s stock worth $582,000 after acquiring an additional 9,450 shares in the last quarter. Sei Investments Co. increased its holdings in shares of AT&T by 23.1% in the first quarter. Sei Investments Co. now owns 1,099,843 shares of the technology company’s stock worth $25,983,000 after acquiring an additional 206,434 shares in the last quarter. Candriam Luxembourg S.C.A. increased its holdings in shares of AT&T by 5.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 476,601 shares of the technology company’s stock worth $11,262,000 after acquiring an additional 25,028 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of AT&T by 1,191.3% in the first quarter. Loomis Sayles & Co. L P now owns 12,706 shares of the technology company’s stock worth $300,000 after acquiring an additional 11,722 shares in the last quarter. Institutional investors own 53.65% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Citigroup increased their price target on AT&T from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. StockNews.com initiated coverage on AT&T in a report on Thursday, October 5th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on AT&T from $23.00 to $22.00 in a report on Friday, July 14th. Wells Fargo & Company reduced their price target on AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, July 20th. Finally, Morgan Stanley reduced their price target on AT&T from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, October 23rd. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AT&T presently has an average rating of “Hold” and an average target price of $19.83.
Check Out Our Latest Analysis on T
AT&T Price Performance
Shares of NYSE T opened at $15.88 on Friday. The firm has a market cap of $113.53 billion, a P/E ratio of -10.31, a price-to-earnings-growth ratio of 1.92 and a beta of 0.60. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.08. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $20.50. The business’s 50 day moving average is $14.90 and its 200-day moving average is $15.41.
AT&T (NYSE:T – Get Free Report) last announced its earnings results on Thursday, October 19th. The technology company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $30.35 billion for the quarter, compared to analyst estimates of $30.25 billion. AT&T had a positive return on equity of 16.26% and a negative net margin of 9.29%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.44 earnings per share for the current year.
AT&T Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.11 annualized dividend and a yield of 6.99%. AT&T’s dividend payout ratio is presently -72.08%.
AT&T 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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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