Mathes Company Inc. increased its holdings in AT&T Inc. (NYSE:T) by 2.0% in the third quarter, Holdings Channel reports. The fund owned 77,261 shares of the technology company’s stock after purchasing an additional 1,500 shares during the quarter. AT&T accounts for approximately 1.5% of Mathes Company Inc.’s portfolio, making the stock its 26th largest position. Mathes Company Inc.’s holdings in AT&T were worth $2,924,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Middleton & Co Inc MA lifted its position in shares of AT&T by 4.6% during the third quarter. Middleton & Co Inc MA now owns 11,258 shares of the technology company’s stock valued at $426,000 after buying an additional 493 shares during the last quarter. Sicart Associates LLC lifted its position in shares of AT&T by 1.7% during the third quarter. Sicart Associates LLC now owns 305,260 shares of the technology company’s stock valued at $11,551,000 after buying an additional 5,175 shares during the last quarter. Windsor Group LTD lifted its position in shares of AT&T by 6.1% during the third quarter. Windsor Group LTD now owns 54,762 shares of the technology company’s stock valued at $2,031,000 after buying an additional 3,163 shares during the last quarter. Strs Ohio lifted its position in shares of AT&T by 4.3% during the third quarter. Strs Ohio now owns 5,071,698 shares of the technology company’s stock valued at $191,913,000 after buying an additional 208,322 shares during the last quarter. Finally, Silver Lake Advisory LLC lifted its position in shares of AT&T by 16.5% during the third quarter. Silver Lake Advisory LLC now owns 19,282 shares of the technology company’s stock valued at $730,000 after buying an additional 2,736 shares during the last quarter. 53.06% of the stock is owned by institutional investors.
In related news, CEO John T. Stankey sold 4,024 shares of the 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 transaction, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The sale was disclosed in a filing with the SEC, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.
AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The company had revenue of $44.96 billion for the quarter, compared to the consensus estimate of $44.97 billion. During the same quarter in the prior year, the company earned $0.91 EPS. AT&T’s quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts anticipate that AT&T Inc. will post 3.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.51 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.04 annualized dividend and a yield of 5.38%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
Several research firms have commented on T. Desjardins reissued an “average” rating and set a $55.50 price target on shares of AT&T in a research report on Tuesday, August 6th. Barclays upped their price objective on shares of AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. They noted that the move was a valuation call. DZ Bank restated a “hold” rating and set a $38.00 price objective on shares of AT&T in a report on Wednesday, September 18th. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective on the stock in a report on Thursday, July 25th. Finally, Oppenheimer set a $41.00 price objective on shares of AT&T and gave the company a “buy” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.28.
AT&T Company Profile
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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