Nomura Asset Management Co. Ltd. increased its position in AT&T Inc. (NYSE:T) by 17.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,588,363 shares of the technology company’s stock after purchasing an additional 235,077 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in AT&T were worth $51,002,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. CKW Financial Group raised its holdings in AT&T by 105.0% in the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after acquiring an additional 2,159 shares during the period. Braun Bostich & Associates Inc. bought a new position in AT&T in the 1st quarter valued at about $137,000. Elmwood Wealth Management Inc. bought a new position in AT&T in the 1st quarter valued at about $178,000. Cerebellum GP LLC bought a new position in AT&T in the 2nd quarter valued at about $178,000. Finally, Bristol John W & Co. Inc. NY bought a new position in AT&T in the 1st quarter valued at about $201,000. 64.77% of the stock is currently owned by institutional investors.
In related news, Director Michael B. Mccallister bought 4,000 shares of the business’s stock in a transaction on Friday, October 26th. The shares were purchased at an average price of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the transaction, the director now directly owns 7,361 shares of the company’s stock, valued at approximately $214,499.54. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was bought at an average price of $32.48 per share, for a total transaction of $249,771.20. Following the transaction, the director now directly owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The firm had revenue of $45.74 billion for the quarter, compared to analyst estimates of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. Equities analysts expect that AT&T Inc. will post 3.51 EPS for the current year.
The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 6.75%. AT&T’s dividend payout ratio is 65.57%.
T has been the topic of several research analyst reports. Bank of America set a $37.00 price target on shares of AT&T and gave the company a “buy” rating in a report on Tuesday, October 23rd. ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, July 24th. Raymond James lowered shares of AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 target price on the stock. in a research report on Friday, July 13th. Finally, Macquarie restated a “buy” rating and set a $35.00 target price on shares of AT&T in a research report on Wednesday, September 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. AT&T currently has an average rating of “Hold” and an average price target of $37.95.
AT&T Company Profile
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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