Uncommon Cents Investing LLC trimmed its position in AT&T Inc. (NYSE:T) by 14.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,461 shares of the technology company’s stock after selling 1,587 shares during the quarter. Uncommon Cents Investing LLC’s holdings in AT&T were worth $317,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in shares of AT&T by 16.9% during the 4th quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock worth $610,299,000 after buying an additional 3,097,958 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of AT&T by 140.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,387,550 shares of the technology company’s stock worth $96,681,000 after buying an additional 1,978,124 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of AT&T by 15.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 10,869,000 shares of the technology company’s stock worth $310,201,000 after buying an additional 1,485,000 shares during the period. QV Investors Inc. grew its position in shares of AT&T by 28.9% during the 4th quarter. QV Investors Inc. now owns 3,684,706 shares of the technology company’s stock worth $105,161,000 after buying an additional 826,700 shares during the period. Finally, First Trust Advisors LP grew its position in shares of AT&T by 8.2% during the 1st quarter. First Trust Advisors LP now owns 8,189,462 shares of the technology company’s stock worth $256,822,000 after buying an additional 620,243 shares during the period. Hedge funds and other institutional investors own 52.91% of the company’s stock.
Several equities analysts have recently issued reports on T shares. Cowen boosted their target price on AT&T from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Morgan Stanley restated a “buy” rating and set a $37.00 target price on shares of AT&T in a research report on Thursday. Desjardins restated an “average” rating and set a $56.50 target price on shares of AT&T in a research report on Friday, April 5th. ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. Finally, Bank of America restated a “buy” rating and set a $37.00 target price on shares of AT&T in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $36.78.
AT&T (NYSE:T) last released 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. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The business had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. During the same quarter in the previous year, the business posted $0.91 EPS. AT&T’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 3.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 5.93%. The ex-dividend date is Tuesday, July 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of the business’s 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 sale, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.
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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