Smith Anglin Financial LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 22.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,291 shares of the technology company’s stock after selling 2,349 shares during the period. Smith Anglin Financial LLC’s holdings in AT&T were worth $239,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in T. Franklin Resources Inc. increased its stake in shares of AT&T by 119.8% in the 1st quarter. Franklin Resources Inc. now owns 27,173,122 shares of the technology company’s stock valued at $822,532,000 after buying an additional 14,811,593 shares during the period. Renaissance Technologies LLC increased its stake in shares of AT&T by 536.2% in the 1st quarter. Renaissance Technologies LLC now owns 12,841,586 shares of the technology company’s stock valued at $388,715,000 after buying an additional 10,823,100 shares during the period. BlackRock Inc. increased its stake in shares of AT&T by 1.3% in the 1st quarter. BlackRock Inc. now owns 492,116,917 shares of the technology company’s stock valued at $14,896,379,000 after buying an additional 6,548,263 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of AT&T by 604.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,092,813 shares of the technology company’s stock valued at $184,429,000 after buying an additional 5,227,851 shares during the period. Finally, Cullen Capital Management LLC increased its stake in shares of AT&T by 297.5% in the 1st quarter. Cullen Capital Management LLC now owns 5,367,698 shares of the technology company’s stock valued at $162,480,000 after buying an additional 4,017,363 shares during the period. 51.61% of the stock is owned by hedge funds and other institutional investors.
T has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, July 26th. Argus cut AT&T from a “buy” rating to a “hold” rating and set a $28.09 target price for the company. in a research note on Tuesday, July 27th. UBS Group raised AT&T from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $32.00 to $35.00 in a research note on Friday, May 21st. Royal Bank of Canada initiated coverage on AT&T in a research note on Thursday, July 22nd. They set a “hold” rating and a $30.00 price objective for the company. Finally, Tigress Financial reaffirmed a “buy” rating and set a $36.00 price objective on shares of AT&T in a research note on Friday, July 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.16.
AT&T (NYSE:T) last posted its earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.10. The firm had revenue of $44.05 billion for the quarter, compared to analyst estimates of $42.39 billion. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. On average, analysts expect that AT&T Inc. will post 3.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Shareholders of record on Friday, July 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, July 8th. This represents a $2.08 annualized dividend and a yield of 7.54%. AT&T’s dividend payout ratio is presently 65.41%.
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.
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