Securian Asset Management Inc lifted its position in AT&T Inc. (NYSE:T) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 753,321 shares of the technology company’s stock after purchasing an additional 7,567 shares during the quarter. Securian Asset Management Inc’s holdings in AT&T were worth $25,244,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Grimes & Company Inc. raised its stake in shares of AT&T by 0.9% during the 2nd quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock worth $1,132,000 after buying an additional 294 shares in the last quarter. Interactive Financial Advisors increased its stake in AT&T by 16.7% in the 2nd quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after purchasing an additional 300 shares in the last quarter. Berkshire Money Management Inc. increased its stake in AT&T by 3.2% in the 2nd quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock valued at $331,000 after purchasing an additional 305 shares in the last quarter. Lenox Wealth Management Inc. increased its stake in AT&T by 6.0% in the 2nd quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock valued at $181,000 after purchasing an additional 308 shares in the last quarter. Finally, Centaurus Financial Inc. increased its stake in AT&T by 24.4% in the 1st 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 in the last quarter. 52.63% of the stock is owned by hedge funds and other institutional investors.
T has been the subject of several research analyst reports. Cowen raised their price objective on AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Raymond James raised their price objective on AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. ValuEngine downgraded AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Bank of America reissued a “buy” rating and set a $37.00 price target on shares of AT&T in a research report on Monday, June 24th. Finally, Desjardins restated an “average” rating and set a $55.50 price objective on shares of AT&T in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. AT&T currently has a consensus rating of “Buy” and a consensus target price of $36.52.
AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.89. The firm had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. AT&T’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. Analysts predict that AT&T Inc. will post 3.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.77%. The ex-dividend date was Tuesday, July 9th. AT&T’s dividend payout ratio is currently 57.95%.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction that occurred on 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 transaction, 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 hyperlink. 0.07% of the stock is owned by insiders.
AT&T Company Profile
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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