Heritage Investors Management Corp trimmed its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 9.6% during the third quarter, HoldingsChannel.com reports. The firm owned 626,379 shares of the technology company’s stock after selling 66,254 shares during the quarter. Heritage Investors Management Corp’s holdings in AT&T were worth $15,284,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Greenleaf Trust grew its holdings in AT&T by 6.3% during the 3rd quarter. Greenleaf Trust now owns 141,142 shares of the technology company’s stock valued at $3,444,000 after buying an additional 8,382 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of AT&T in the third quarter worth about $42,122,000. Aviance Capital Partners LLC lifted its holdings in shares of AT&T by 3.3% in the third quarter. Aviance Capital Partners LLC now owns 30,984 shares of the technology company’s stock worth $756,000 after buying an additional 989 shares in the last quarter. SFE Investment Counsel boosted its position in shares of AT&T by 1.4% in the third quarter. SFE Investment Counsel now owns 36,868 shares of the technology company’s stock valued at $900,000 after acquiring an additional 519 shares during the period. Finally, Grandfield & Dodd LLC bought a new position in shares of AT&T in the third quarter valued at approximately $222,000. Institutional investors own 57.10% of the company’s stock.
AT&T Stock Up 0.2%
T stock opened at $21.45 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22. The company’s 50 day moving average is $24.36 and its 200 day moving average is $24.96. The stock has a market cap of $144.50 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.06 and a beta of 0.30. AT&T Inc. has a 1-year low of $19.89 and a 1-year high of $29.43.
AT&T (NYSE:T – Get Free Report) last announced its earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The business had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.69 billion. During the same period in the previous year, the business posted $0.54 earnings per share. AT&T’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.39 EPS for the current fiscal year.
AT&T Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 9th. This represents a $1.11 annualized dividend and a dividend yield of 5.2%. AT&T’s dividend payout ratio (DPR) is 60.00%.
Analysts Set New Price Targets
Several brokerages recently commented on T. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a research note on Thursday, July 23rd. Sanford C. Bernstein downgraded shares of AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 price target for the company. in a report on Tuesday, October 13th. KeyCorp cut their price target on shares of AT&T from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. JPMorgan Chase & Co. reduced their price target on shares of AT&T from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AT&T in a report on Friday. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.55.
Get Our Latest Stock Report on T
More AT&T News
Here are the key news stories impacting AT&T this week:
- Positive Sentiment: Fresh estimates indicate that building a nationwide wireless network would be expensive for SpaceX, reducing the near-term threat to established carriers such as AT&T. T-Mobile’s decision not to pursue an MVNO arrangement with SpaceX also suggests incumbents are not immediately embracing the proposed rival. T-Mobile, SpaceX and wireless competition article
- Positive Sentiment: Televisa expects AT&T’s planned purchase to strengthen its competitive position. A stronger strategic footprint could support AT&T’s long-term growth and operating leverage, although the transaction is expected to increase debt. Televisa expects AT&T purchase to strengthen position
- Neutral Sentiment: Wireless pioneer Ray Dolan suggested mobile internet could eventually become free if carriers monetize data collected from cell-tower sensing. The idea highlights a possible future revenue stream for AT&T, but it is speculative and unlikely to affect near-term earnings. Wireless carriers and free mobile internet article
- Negative Sentiment: AT&T’s dividend payments reportedly fell 46% while the company directed billions toward share repurchases. Buybacks can support per-share earnings and signal management confidence, but the reduced dividend is a drawback for income-focused investors and raises questions about whether capital returns are being shifted away from cash payouts. AT&T dividend payments and stock buybacks article
AT&T Company Profile
AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.
The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.
AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.
Featured Stories
- Five stocks we like better than AT&T
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
- Oracle’s AI Spending Peak Is in Sight—Can the Stock Recover?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T – Free Report).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.
