Crossvault Capital Management LLC lowered its holdings in shares of AT&T Inc. (NYSE:T) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,007 shares of the technology company’s stock after selling 2,349 shares during the period. Crossvault Capital Management LLC’s holdings in AT&T were worth $3,269,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. grew its holdings in shares of AT&T by 32.7% during the fourth quarter. Westside Investment Management Inc. now owns 25,879 shares of the technology company’s stock worth $267,944,000 after buying an additional 6,382 shares in the last quarter. Seelaus Asset Management LLC grew its stake in AT&T by 106.3% during the fourth quarter. Seelaus Asset Management LLC now owns 39,241 shares of the technology company’s stock worth $1,129,000 after buying an additional 20,216 shares during the period. Illinois Municipal Retirement Fund grew its stake in AT&T by 50.1% during the fourth quarter. Illinois Municipal Retirement Fund now owns 132,087 shares of the technology company’s stock worth $3,799,000 after buying an additional 44,059 shares during the period. Cibc World Markets Corp grew its stake in AT&T by 31.5% during the fourth quarter. Cibc World Markets Corp now owns 2,379,426 shares of the technology company’s stock worth $68,432,000 after buying an additional 570,162 shares during the period. Finally, Financial Advocates Investment Management grew its stake in AT&T by 47.5% during the fourth quarter. Financial Advocates Investment Management now owns 198,256 shares of the technology company’s stock worth $5,702,000 after buying an additional 63,812 shares during the period. Institutional investors and hedge funds own 51.17% of the company’s stock.
T traded up $0.27 on Tuesday, reaching $31.77. The company had a trading volume of 766,873 shares, compared to its average volume of 43,032,539. The company has a fifty day moving average of $30.38 and a 200-day moving average of $29.19. The company has a market capitalization of $226.58 billion, a P/E ratio of 20.72, a PEG ratio of 3.04 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.78. AT&T Inc. has a one year low of $26.35 and a one year high of $33.24.
AT&T (NYSE:T) last announced its earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.08. The firm had revenue of $43.90 billion during the quarter, compared to analyst estimates of $42.69 billion. AT&T had a net margin of 6.42% and a return on equity of 12.27%. AT&T’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Research analysts predict that AT&T Inc. will post 3.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Friday, April 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend was Thursday, April 8th. AT&T’s payout ratio is 58.26%.
A number of research analysts have recently commented on the stock. Raymond James boosted their target price on shares of AT&T from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Oppenheimer reissued a “hold” rating on shares of AT&T in a research report on Monday, April 26th. CIBC reissued a “buy” rating on shares of AT&T in a research report on Wednesday, February 10th. Barclays boosted their target price on shares of AT&T from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, April 23rd. Finally, Credit Suisse Group cut their price target on shares of AT&T from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.43.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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