Howard Financial Services LTD. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 8.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,350 shares of the technology company’s stock after selling 644 shares during the period. Howard Financial Services LTD.’s holdings in AT&T were worth $246,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Horan Securities Inc. boosted its position in AT&T by 439.2% during the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares during the period. Next Capital Management LLC bought a new position in AT&T during the second quarter worth about $39,000. Contravisory Investment Management Inc. boosted its position in AT&T by 36.0% during the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after purchasing an additional 338 shares during the period. Smart Portfolios LLC boosted its position in AT&T by 44.8% during the fourth quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after purchasing an additional 500 shares during the period. Finally, Centaurus Financial Inc. boosted its position in AT&T by 24.4% during the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 52.63% of the company’s stock.
A number of equities analysts have weighed in on T shares. ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Raymond James increased their target price on shares of AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a research report on Thursday, July 25th. Desjardins reiterated an “average” rating and set a $55.50 target price on shares of AT&T in a research report on Tuesday, August 6th. Finally, Bank of America reissued a “buy” rating and issued a $37.00 price target on shares of AT&T in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. AT&T presently has a consensus rating of “Buy” and a consensus target price of $36.52.
AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion for the quarter, compared to the consensus estimate of $44.97 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities analysts anticipate that AT&T Inc. will post 3.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend was Tuesday, July 9th. AT&T’s dividend payout ratio is currently 57.95%.
In related news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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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