Optas LLC acquired a new position in shares of AT&T Inc. (NYSE:T) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,173 shares of the technology company’s stock, valued at approximately $432,000.
Several other institutional investors and hedge funds also recently modified their holdings of T. Jaffetilchin Investment Partners LLC raised its position in shares of AT&T by 10.4% during the second quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock worth $37,000 after acquiring an additional 1,248 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of AT&T during the third quarter worth about $62,000. NWK Group Inc. bought a new position in shares of AT&T during the second quarter worth about $65,000. JJJ Advisors Inc. increased its holdings in AT&T by 212.3% in the second quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,507 shares in the last quarter. Finally, Provident Wealth Management LLC bought a new stake in AT&T in the third quarter worth approximately $70,000. Institutional investors own 52.29% of the company’s stock.
Shares of NYSE:T traded down $0.43 during mid-day trading on Monday, hitting $27.39. 304,035 shares of the company traded hands, compared to its average volume of 39,324,133. The stock has a market cap of $198.22 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.52 and a beta of 0.69. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. AT&T Inc. has a 12-month low of $26.08 and a 12-month high of $39.70. The stock has a 50-day moving average price of $28.47 and a two-hundred day moving average price of $29.69.
AT&T (NYSE:T) last announced its earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01). The company had revenue of $42.43 billion for the quarter, compared to analysts’ expectations of $41.66 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. As a group, analysts expect that AT&T Inc. will post 3.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be given a $0.52 dividend. The ex-dividend date is Thursday, October 8th. This represents a $2.08 annualized dividend and a yield of 7.59%. AT&T’s dividend payout ratio is currently 58.26%.
T has been the subject of a number of research analyst reports. Scotiabank downgraded AT&T from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the stock from $34.00 to $30.00 in a report on Monday, August 31st. Oppenheimer reiterated a “buy” rating and issued a $38.00 target price on shares of AT&T in a report on Thursday, October 1st. KeyCorp downgraded AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft lowered their target price on AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, Bank of America reiterated a “buy” rating and issued a $36.00 target price on shares of AT&T in a report on Friday, July 24th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. AT&T presently has an average rating of “Hold” and a consensus price target of $33.38.
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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