Rockland Trust Co. increased its holdings in shares of AT&T Inc. (NYSE:T) by 13.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,854 shares of the technology company’s stock after purchasing an additional 17,205 shares during the period. Rockland Trust Co.’s holdings in AT&T were worth $5,424,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Horan Securities Inc. lifted its stake in shares of AT&T by 439.2% in the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock valued at $34,000 after purchasing an additional 830 shares during the period. Next Capital Management LLC acquired a new stake in shares of AT&T in the second quarter valued at about $39,000. Contravisory Investment Management Inc. lifted its stake in shares of AT&T by 36.0% in the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after purchasing an additional 338 shares during the period. Centaurus Financial Inc. lifted its stake in shares of AT&T by 24.4% in the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after purchasing an additional 333 shares during the period. Finally, Interactive Financial Advisors acquired a new stake in shares of AT&T in the first quarter valued at about $56,000. Hedge funds and other institutional investors own 53.02% of the company’s stock.
In other news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.
T has been the subject of several recent analyst reports. JPMorgan Chase & Co. set a $39.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. Raymond James reiterated an “outperform” rating and issued a $40.00 price objective (up previously from $35.00) on shares of AT&T in a research note on Monday. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup raised their price objective on shares of AT&T from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $38.43.
NYSE:T traded up $0.21 during mid-day trading on Friday, hitting $37.63. 526,272 shares of the company’s stock traded hands, compared to its average volume of 33,095,766. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50 day simple moving average is $36.67 and its 200 day simple moving average is $33.53. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $38.75. The company has a market cap of $273.43 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63.
AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, research analysts expect that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.51 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.42%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
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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