AT&T Inc. (NYSE:T) is Logan Capital Management Inc.’s 4th Largest Position
Logan Capital Management Inc. raised its stake in shares of AT&T Inc. (NYSE:T) by 3.5% during the first quarter, Holdings Channel reports. The fund owned 695,278 shares of the technology company’s stock after buying an additional 23,442 shares during the period. AT&T comprises approximately 2.2% of Logan Capital Management Inc.’s portfolio, making the stock its 4th largest position. Logan Capital Management Inc.’s holdings in AT&T were worth $28,889,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Feltz Wealth PLAN Inc. purchased a new stake in AT&T during the first quarter worth about $104,000. Taylor Wealth Management Partners increased its stake 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 worth $106,000 after buying an additional 11 shares during the period. Asset Planning Services Ltd. increased its stake in 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 period. Israel Discount Bank of New York GFN purchased a new stake in AT&T during the fourth quarter worth about $196,000. Finally, Toth Financial Advisory Corp purchased a new stake in AT&T during the first quarter worth about $214,000. Hedge funds and other institutional investors own 55.28% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) traded up 0.03% during mid-day trading on Thursday, hitting $38.37. The stock had a trading volume of 3,251,054 shares. AT&T Inc. has a one year low of $35.81 and a one year high of $43.48. The firm has a 50 day moving average of $37.57 and a 200 day moving average of $39.68. The stock has a market cap of $235.59 billion, a price-to-earnings ratio of 18.03 and a beta of 0.47.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company had revenue of $39.84 billion during the quarter, compared to analyst estimates of $39.84 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post $2.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 5.11%. The ex-dividend date was Thursday, July 6th. AT&T’s dividend payout ratio (DPR) is 92.45%.
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A number of equities research analysts have issued reports on the company. Royal Bank Of Canada set a $42.00 price target on AT&T and gave the company a “hold” rating in a research report on Saturday, May 20th. Cowen and Company reissued a “market perform” rating and set a $41.00 price target (down previously from $43.00) on shares of AT&T in a research report on Wednesday, July 26th. Vetr downgraded AT&T from a “strong-buy” rating to a “buy” rating and set a $40.69 price target for the company. in a research report on Wednesday, July 26th. Drexel Hamilton reissued a “hold” rating on shares of AT&T in a research report on Friday, June 2nd. Finally, BidaskClub raised AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $43.40.
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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