Willingdon Wealth Management reduced its holdings in shares of AT&T Inc. (NYSE:T) by 36.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,364 shares of the technology company’s stock after selling 54,873 shares during the quarter. Willingdon Wealth Management’s holdings in AT&T were worth $3,030,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of T. Guardian Investment Management raised its stake in shares of AT&T by 8.4% in the second quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock valued at $4,598,000 after buying an additional 11,054 shares during the period. Ironsides Asset Advisors LLC raised its stake in shares of AT&T by 450.8% in the second quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock valued at $1,735,000 after buying an additional 44,231 shares during the period. Whittier Trust Co. raised its stake in shares of AT&T by 9.5% in the second quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock valued at $14,859,000 after buying an additional 40,293 shares during the period. BP PLC raised its stake in shares of AT&T by 30.5% in the second quarter. BP PLC now owns 914,826 shares of the technology company’s stock valued at $29,375,000 after buying an additional 213,826 shares during the period. Finally, AdvisorNet Financial Inc raised its stake in shares of AT&T by 14.1% in the second quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock valued at $1,622,000 after buying an additional 6,247 shares during the period. Institutional investors and hedge funds own 64.76% of the company’s stock.
In other AT&T news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of AT&T stock in a transaction that occurred on Wednesday, August 8th. The stock was acquired at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the completion of the transaction, the director now directly owns 31,405 shares in the company, valued at $1,020,034.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.
AT&T (NYSE:T) last posted its earnings results on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a return on equity of 13.64% and a net margin of 20.12%. The business had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. AT&T’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 3.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend is Tuesday, October 9th. AT&T’s payout ratio is 65.57%.
Several analysts have issued reports on the company. Scotiabank set a $32.00 target price on AT&T and gave the company a “hold” rating in a research note on Thursday. Argus restated a “buy” rating and issued a $48.00 target price on shares of AT&T in a research note on Friday. Robert W. Baird reduced their price target on AT&T from $38.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday. Raymond James cut AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 price target for the company. in a research report on Friday, July 13th. Finally, Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Tuesday, July 17th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. AT&T presently has an average rating of “Hold” and a consensus price target of $37.95.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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