Keystone Financial Planning Inc. grew its stake in shares of AT&T Inc. (NYSE:T) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 300,223 shares of the technology company’s stock after buying an additional 2,742 shares during the period. AT&T accounts for approximately 2.9% of Keystone Financial Planning Inc.’s holdings, making the stock its 12th biggest holding. Keystone Financial Planning Inc.’s holdings in AT&T were worth $8,109,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Newton One Investments LLC purchased a new stake in AT&T during the 2nd quarter worth $27,000. Activest Wealth Management purchased a new position in AT&T in the 2nd quarter valued at about $35,000. Interactive Financial Advisors boosted its position in AT&T by 36.0% in the 2nd quarter. Interactive Financial Advisors now owns 1,497 shares of the technology company’s stock valued at $83,000 after buying an additional 396 shares during the last quarter. Cypress Point Wealth Management LLC boosted its position in AT&T by 4,411.8% in the 2nd quarter. Cypress Point Wealth Management LLC now owns 1,534 shares of the technology company’s stock valued at $44,000 after buying an additional 1,500 shares during the last quarter. Finally, Paradigm Strategies in Wealth Management LLC boosted its position in AT&T by 69.6% in the 2nd quarter. Paradigm Strategies in Wealth Management LLC now owns 2,518 shares of the technology company’s stock valued at $72,000 after buying an additional 1,033 shares during the last quarter. 51.42% of the stock is owned by hedge funds and other institutional investors.
In other AT&T news, Director Stephen J. Luczo purchased 100,000 shares of the business’s stock in a transaction dated Monday, November 8th. The shares were acquired at an average price of $25.04 per share, for a total transaction of $2,504,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.08% of the stock is owned by corporate insiders.
AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 20th. The technology company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.09. The business had revenue of $39.90 billion during the quarter, compared to the consensus estimate of $42.37 billion. AT&T had a net margin of 0.67% and a return on equity of 13.47%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, sell-side analysts expect that AT&T Inc. will post 3.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 1st. Shareholders of record on Monday, October 11th were given a $0.52 dividend. The ex-dividend date was Thursday, October 7th. This represents a $2.08 dividend on an annualized basis and a yield of 8.59%. AT&T’s payout ratio is 1,733.48%.
A number of equities analysts have weighed in on T shares. KeyCorp raised shares of AT&T from an “underweight” rating to a “sector weight” rating in a research report on Thursday, October 14th. Moffett Nathanson upgraded shares of AT&T from a “sell” rating to a “neutral” rating and upped their target price for the company from $23.00 to $28.00 in a research note on Thursday, October 7th. Loop Capital started coverage on shares of AT&T in a research note on Monday, September 20th. They issued a “hold” rating and a $30.00 target price on the stock. Citigroup cut their target price on shares of AT&T from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, October 19th. Finally, Barclays cut their target price on shares of AT&T from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, October 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.13.
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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