Vigilant Capital Management LLC lowered its holdings in shares of AT&T Inc. (NYSE:T) by 18.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,268 shares of the technology company’s stock after selling 1,200 shares during the period. Vigilant Capital Management LLC’s holdings in AT&T were worth $177,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in T. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of AT&T by 77.3% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 163,920 shares of the technology company’s stock worth $4,678,000 after acquiring an additional 71,471 shares during the last quarter. Sippican Capital Advisors grew its position in shares of AT&T by 36.2% in the fourth quarter. Sippican Capital Advisors now owns 23,015 shares of the technology company’s stock valued at $657,000 after purchasing an additional 6,123 shares during the period. Ferguson Wellman Capital Management Inc. grew its position in shares of AT&T by 12.5% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,756,398 shares of the technology company’s stock valued at $50,128,000 after purchasing an additional 195,526 shares during the period. Personal Capital Advisors Corp grew its position in shares of AT&T by 0.6% in the fourth quarter. Personal Capital Advisors Corp now owns 966,875 shares of the technology company’s stock valued at $27,595,000 after purchasing an additional 6,041 shares during the period. Finally, Strategic Wealth Management Group LLC purchased a new stake in shares of AT&T in the fourth quarter valued at $392,000. 52.91% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by corporate insiders.
AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The company had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that AT&T Inc. will post 3.57 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.97%. The ex-dividend date of this dividend was Tuesday, July 9th. AT&T’s payout ratio is 57.95%.
A number of equities research analysts have recently commented on T shares. Morgan Stanley reaffirmed a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research report on Thursday. Cowen lifted their price objective on AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Desjardins reaffirmed an “average” rating and issued a $56.50 price objective on shares of AT&T in a research report on Friday, April 5th. Bank of America reaffirmed a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research report on Monday, June 24th. Finally, Credit Suisse Group raised AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $36.78.
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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