RDL Financial Inc. purchased a new position in shares of AT&T Inc. (NYSE:T) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,335 shares of the technology company’s stock, valued at approximately $985,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price Wealth Management Inc. grew its holdings in AT&T by 165.1% in the 2nd quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock valued at $106,000 after buying an additional 2,064 shares in the last quarter. Chessman Wealth Strategies RIA purchased a new stake in AT&T in the 3rd quarter valued at $114,000. CKW Financial Group grew its holdings in AT&T by 105.0% in the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after buying an additional 2,159 shares in the last quarter. Hoertkorn Richard Charles grew its holdings in AT&T by 66.7% in the 3rd quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock valued at $168,000 after buying an additional 2,000 shares in the last quarter. Finally, Lenox Wealth Management Inc. grew its holdings in AT&T by 184.6% in the 3rd quarter. Lenox Wealth Management Inc. now owns 5,769 shares of the technology company’s stock valued at $194,000 after buying an additional 3,742 shares in the last quarter. Hedge funds and other institutional investors own 63.41% of the company’s stock.
T opened at $30.87 on Monday. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $39.29. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market cap of $184.78 billion, a P/E ratio of 10.12, a PEG ratio of 1.31 and a beta of 0.52.
AT&T (NYSE:T) last posted its earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a return on equity of 13.61% and a net margin of 20.40%. The firm had revenue of $45.74 billion for the quarter, compared to analyst estimates of $45.73 billion. During the same period in the previous year, the company posted $0.74 EPS. AT&T’s revenue was up 15.3% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 3.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be paid a dividend of $0.51 per share. This is a positive change from AT&T’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $2.04 annualized dividend and a yield of 6.61%. AT&T’s dividend payout ratio is presently 66.89%.
In other news, Director Michael B. Mccallister bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were purchased at an average price of $29.14 per share, with a total value of $116,560.00. Following the purchase, the director now owns 7,361 shares in the company, valued at $214,499.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.
Several equities analysts have recently commented on T shares. Bank of America reaffirmed a “buy” rating and issued a $37.00 price target on shares of AT&T in a research note on Friday, December 14th. Argus reaffirmed a “buy” rating and issued a $48.00 price target on shares of AT&T in a research note on Friday, October 26th. Cowen upped their price target on AT&T from $34.00 to $36.00 in a research note on Sunday, December 9th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and set a $31.82 price target on the stock in a research note on Sunday, December 9th. Finally, Citigroup raised AT&T from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. AT&T has a consensus rating of “Buy” and an average price target of $35.97.
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AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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