FineMark National Bank & Trust grew its stake in shares of AT&T Inc. (NYSE:T) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,478 shares of the technology company’s stock after buying an additional 1,107 shares during the quarter. AT&T accounts for approximately 0.8% of FineMark National Bank & Trust’s portfolio, making the stock its 25th largest holding. FineMark National Bank & Trust’s holdings in AT&T were worth $11,262,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in T. APG Asset Management N.V. grew its stake in shares of AT&T by 7.1% in the second quarter. APG Asset Management N.V. now owns 16,917,935 shares of the technology company’s stock worth $638,314,000 after purchasing an additional 1,117,300 shares during the last quarter. Achmea Investment Management B.V. bought a new stake in shares of AT&T in the first quarter worth about $42,198,000. Schwab Charles Investment Management Inc. grew its stake in shares of AT&T by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock worth $928,960,000 after purchasing an additional 985,330 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in shares of AT&T by 511.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 1,003,922 shares of the technology company’s stock worth $37,878,000 after purchasing an additional 839,792 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its stake in shares of AT&T by 172.6% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 1,029,308 shares of the technology company’s stock worth $38,650,000 after purchasing an additional 651,727 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AT&T Inc. (T) opened at 38.19 on Thursday. The company has a market cap of $234.49 billion, a P/E ratio of 17.95 and a beta of 0.49. The firm has a 50-day moving average of $37.88 and a 200-day moving average of $38.46. AT&T Inc. has a 52-week low of $35.10 and a 52-week high of $43.03.
AT&T (NYSE:T) last posted its earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. AT&T’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post $2.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.49 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.13%. AT&T’s dividend payout ratio is currently 92.45%.
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Several brokerages have commented on T. Barclays PLC lowered their price objective on shares of AT&T from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, July 14th. Vetr lowered shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 price objective for the company. in a report on Tuesday, September 26th. Royal Bank Of Canada restated a “hold” rating and issued a $42.00 price objective on shares of AT&T in a report on Sunday, July 9th. Bank of America Corporation lowered shares of AT&T from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $46.00 to $39.00 in a report on Thursday, July 13th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have issued a buy rating to the company. AT&T presently has an average rating of “Hold” and an average target price of $43.84.
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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