Valmark Advisers Inc. grew its stake in AT&T Inc. (NYSE:T) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,134 shares of the technology company’s stock after buying an additional 1,492 shares during the period. Valmark Advisers Inc.’s holdings in AT&T were worth $859,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. NWK Group Inc. purchased a new position in shares of AT&T in the second quarter worth $65,000. Cerebellum GP LLC purchased a new position in shares of AT&T in the third quarter worth $62,000. Provident Wealth Management LLC purchased a new position in shares of AT&T in the third quarter worth $70,000. Planned Solutions Inc. purchased a new position in shares of AT&T in the third quarter worth $81,000. Finally, Litman Gregory Asset Management LLC raised its holdings in shares of AT&T by 844.0% during the second quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after purchasing an additional 2,667 shares during the last quarter. 52.29% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on T shares. Bank of America reissued a “buy” rating and set a $36.00 target price on shares of AT&T in a report on Friday, July 24th. KeyCorp cut shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Wells Fargo & Company restated an “underweight” rating and set a $25.00 price target on shares of AT&T in a research report on Monday. Finally, Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and dropped their price target for the company from $34.00 to $30.00 in a research report on Monday, August 31st. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. AT&T presently has a consensus rating of “Hold” and an average target price of $32.40.
Shares of NYSE T opened at $28.97 on Tuesday. The firm has a market cap of $206.44 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. AT&T Inc. has a 52-week low of $26.08 and a 52-week high of $39.70. The company’s 50-day simple moving average is $27.88 and its 200-day simple moving average is $29.39. 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 (NYSE:T) last posted its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The business had revenue of $42.43 billion for the quarter, compared to analyst estimates of $41.66 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 3.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Monday, October 12th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, October 8th. This represents a $2.08 dividend on an annualized basis and a yield of 7.18%. AT&T’s payout ratio is presently 58.26%.
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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