Cadence Capital Management LLC lessened its position in AT&T Inc. (NYSE:T) by 19.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 84,647 shares of the technology company’s stock after selling 19,960 shares during the period. Cadence Capital Management LLC’s holdings in AT&T were worth $2,413,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of AT&T by 0.4% during the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 83,862 shares of the technology company’s stock valued at $2,535,000 after acquiring an additional 345 shares in the last quarter. Pioneer Trust Bank N A OR raised its stake in shares of AT&T by 3.0% during the second quarter. Pioneer Trust Bank N A OR now owns 12,016 shares of the technology company’s stock valued at $363,000 after acquiring an additional 352 shares in the last quarter. KFA Private Wealth Group LLC raised its stake in shares of AT&T by 2.9% during the second quarter. KFA Private Wealth Group LLC now owns 12,747 shares of the technology company’s stock valued at $385,000 after acquiring an additional 356 shares in the last quarter. Cordatus Wealth Management LLC raised its stake in AT&T by 0.8% in the second quarter. Cordatus Wealth Management LLC now owns 44,302 shares of the technology company’s stock worth $1,339,000 after buying an additional 361 shares in the last quarter. Finally, Ferris Capital LLC raised its stake in AT&T by 1.9% in the second quarter. Ferris Capital LLC now owns 19,424 shares of the technology company’s stock worth $587,000 after buying an additional 362 shares in the last quarter. 52.29% of the stock is owned by hedge funds and other institutional investors.
In other AT&T news, Director Stephen J. Luczo purchased 100,000 shares of the stock in a transaction on Thursday, July 23rd. The shares were bought at an average cost of $29.69 per share, with a total value of $2,969,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.
Shares of T traded down $0.12 during trading hours on Friday, reaching $27.33. 29,326,146 shares of the company traded hands, compared to its average volume of 39,136,250. The stock has a market capitalization of $194.73 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.64 and a beta of 0.69. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. AT&T Inc. has a 12-month low of $26.08 and a 12-month high of $39.70. The business has a fifty day moving average price of $28.84 and a 200-day moving average price of $29.74.
AT&T (NYSE:T) last announced its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $40.95 billion for the quarter, compared to analyst estimates of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, research analysts predict that AT&T Inc. will post 3.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 7.61%. The ex-dividend date is Thursday, October 8th. AT&T’s payout ratio is 58.26%.
A number of brokerages recently commented on T. Oppenheimer reissued a “buy” rating and issued a $38.00 price objective on shares of AT&T in a research note on Thursday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Bank of America reissued a “buy” rating and issued a $36.00 price objective on shares of AT&T in a research note on Friday, July 24th. Barclays began coverage on shares of AT&T in a research note on Friday, October 2nd. They issued an “overweight” rating for the company. Finally, Royal Bank of Canada boosted their price objective on shares of AT&T from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.56.
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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