Kornitzer Capital Management Inc. KS lessened its holdings in AT&T Inc. (NYSE:T) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,586,352 shares of the technology company’s stock after selling 30,060 shares during the period. AT&T accounts for 1.1% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 9th biggest position. Kornitzer Capital Management Inc. KS’s holdings in AT&T were worth $62,137,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Telos Capital Management Inc. increased its position in AT&T by 4.8% during the 2nd quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock worth $2,641,000 after buying an additional 3,197 shares during the period. Welch Investments LLC increased its position in AT&T by 9.3% during the 2nd quarter. Welch Investments LLC now owns 109,245 shares of the technology company’s stock worth $4,122,000 after buying an additional 9,291 shares during the period. Moors & Cabot Inc. increased its position in AT&T by 11.3% during the 2nd quarter. Moors & Cabot Inc. now owns 247,888 shares of the technology company’s stock worth $9,373,000 after buying an additional 25,167 shares during the period. Wedbush Securities Inc. increased its position in AT&T by 9.7% during the 2nd quarter. Wedbush Securities Inc. now owns 176,333 shares of the technology company’s stock worth $6,653,000 after buying an additional 15,562 shares during the period. Finally, Ingalls & Snyder LLC increased its position in AT&T by 2.3% during the 2nd quarter. Ingalls & Snyder LLC now owns 460,224 shares of the technology company’s stock worth $17,364,000 after buying an additional 10,305 shares during the period. Institutional investors and hedge funds own 55.76% of the company’s stock.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a research report on Friday. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.60 price objective on the stock in a research report on Wednesday. KeyCorp increased their price objective on AT&T from $35.00 to $38.00 and gave the stock a “sector weight” rating in a research report on Tuesday, January 2nd. ValuEngine cut AT&T from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Jefferies Group reiterated a “buy” rating and set a $36.38 price objective (down previously from $48.00) on shares of AT&T in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $42.59.
Shares of AT&T Inc. (NYSE T) opened at $36.90 on Friday. The stock has a market capitalization of $226,530.00, a price-to-earnings ratio of 17.74, a PEG ratio of 3.14 and a beta of 0.44. AT&T Inc. has a 1-year low of $32.55 and a 1-year high of $42.70. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.23.
AT&T (NYSE:T) last released its earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). The company had revenue of $39.67 billion for the quarter, compared to analyst estimates of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. research analysts anticipate that AT&T Inc. will post 2.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.50 per share. This is a positive change from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Tuesday, January 9th. AT&T’s dividend payout ratio is 96.15%.
In other AT&T news, Director Matthew K. Rose acquired 29,600 shares of AT&T stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the purchase, the director now directly owns 3,100 shares of the company’s stock, valued at approximately $104,625. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.
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AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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