Folger Nolan Fleming Douglas Capital Management Inc. Grows Position in AT&T Inc. (T)

Folger Nolan Fleming Douglas Capital Management Inc. increased its holdings in AT&T Inc. (NYSE:T) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,276 shares of the technology company’s stock after purchasing an additional 1,553 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in AT&T were worth $3,059,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price Wealth Management Inc. increased its position in shares of AT&T by 165.1% in the second quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock worth $106,000 after acquiring an additional 2,064 shares in the last quarter. CKW Financial Group increased its position in shares of AT&T by 105.0% in the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after acquiring an additional 2,159 shares in the last quarter. Braun Bostich & Associates Inc. purchased a new position in shares of AT&T in the first quarter worth approximately $137,000. Elmwood Wealth Management Inc. purchased a new position in shares of AT&T in the first quarter worth approximately $178,000. Finally, Cerebellum GP LLC purchased a new position in shares of AT&T in the second quarter worth approximately $178,000. Institutional investors and hedge funds own 64.97% of the company’s stock.

Shares of T opened at $30.29 on Friday. AT&T Inc. has a 52 week low of $28.85 and a 52 week high of $39.33. The company has a market cap of $187.30 billion, a P/E ratio of 9.93, a P/E/G ratio of 2.44 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.



AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The company had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts predict that AT&T Inc. will post 3.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend was Tuesday, October 9th. AT&T’s payout ratio is presently 65.57%.

Several research analysts have recently weighed in on the stock. Argus reissued a “buy” rating and issued a $48.00 target price on shares of AT&T in a research report on Friday, October 26th. Deutsche Bank lifted their target price on shares of AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, September 24th. UBS Group raised shares of AT&T from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $38.00 in a research report on Friday, September 21st. They noted that the move was a valuation call. Bank of America reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 21st. Finally, Scotiabank set a $33.00 target price on shares of AT&T and gave the stock a “hold” rating in a research report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $36.59.

In other AT&T news, Director Michael B. Mccallister bought 4,000 shares of the firm’s stock in a transaction on Friday, October 26th. The stock was bought at an average cost of $29.14 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

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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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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