Assetmark Inc. Decreases Position in AT&T Inc. (NYSE:T)
Assetmark Inc. decreased its stake in shares of AT&T Inc. (NYSE:T) by 23.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,542 shares of the technology company’s stock after selling 14,803 shares during the period. Assetmark Inc.’s holdings in AT&T were worth $1,975,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Feltz Wealth PLAN Inc. bought a new position in AT&T during the first quarter valued at about $104,000. Taylor Wealth Management Partners raised its position in AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after buying an additional 11 shares during the period. Asset Planning Services Ltd. raised its stake in shares of AT&T by 26.6% in the first quarter. Asset Planning Services Ltd. now owns 4,169 shares of the technology company’s stock worth $173,000 after buying an additional 877 shares during the last quarter. Israel Discount Bank of New York GFN acquired a new stake in shares of AT&T during the fourth quarter worth $196,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of AT&T during the first quarter worth $214,000. Hedge funds and other institutional investors own 55.29% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) opened at 38.43 on Friday. The stock has a market capitalization of $235.96 billion, a PE ratio of 18.14 and a beta of 0.47. The firm has a 50-day moving average price of $37.65 and a 200 day moving average price of $39.78. AT&T Inc. has a one year low of $35.81 and a one year high of $43.48.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. The company had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. AT&T’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. On average, equities analysts expect that AT&T Inc. will post $2.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Thursday, July 6th. AT&T’s payout ratio is 92.45%.
T has been the topic of a number of research analyst reports. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.93 price target on the stock in a research note on Wednesday, May 24th. Barclays PLC dropped their price target on AT&T from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, July 14th. Argus restated a “buy” rating and set a $51.00 price target on shares of AT&T in a research note on Monday, April 10th. Royal Bank Of Canada restated a “hold” rating and set a $42.00 price target on shares of AT&T in a research note on Sunday, July 9th. Finally, Jefferies Group LLC restated a “buy” rating and set a $48.00 price target on shares of AT&T in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $43.40.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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