Maple Capital Management Inc. Has $1.61 Million Stake in AT&T Inc. (NYSE:T)
Maple Capital Management Inc. reduced its position in AT&T Inc. (NYSE:T) by 13.7% during the second quarter, Holdings Channel reports. The fund owned 42,648 shares of the technology company’s stock after selling 6,782 shares during the period. Maple Capital Management Inc.’s holdings in AT&T were worth $1,609,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in AT&T during the fourth quarter worth approximately $2,416,759,000. Westwood Holdings Group Inc. boosted its stake in AT&T by 2,630.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,225,260 shares of the technology company’s stock worth $137,171,000 after buying an additional 3,107,120 shares during the period. Teachers Advisors LLC boosted its stake in AT&T by 26.5% in the fourth quarter. Teachers Advisors LLC now owns 13,610,660 shares of the technology company’s stock worth $578,861,000 after buying an additional 2,849,017 shares during the period. Macquarie Group Ltd. boosted its stake in AT&T by 6.1% in the fourth quarter. Macquarie Group Ltd. now owns 19,837,884 shares of the technology company’s stock worth $843,705,000 after buying an additional 1,139,382 shares during the period. Finally, Achmea Investment Management B.V. bought a new stake in AT&T during the first quarter worth approximately $42,198,000. 55.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AT&T Inc. (NYSE:T) traded down 0.24% during midday trading on Friday, reaching $38.10. 13,278,982 shares of the company traded hands. The stock has a market capitalization of $233.93 billion, a P/E ratio of 17.90 and a beta of 0.47. AT&T Inc. has a 1-year low of $35.81 and a 1-year high of $43.32. The stock’s 50-day moving average is $37.57 and its 200-day moving average is $39.64.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion for the quarter, compared to analyst estimates 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 for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. Equities analysts predict that AT&T Inc. will post $2.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend was Thursday, July 6th. AT&T’s payout ratio is 92.45%.
A number of analysts recently commented on the stock. Royal Bank Of Canada set a $42.00 target price on shares of AT&T and gave the stock a “hold” rating in a research note on Saturday, May 20th. Cowen and Company reiterated a “market perform” rating and issued a $41.00 target price (down from $43.00) on shares of AT&T in a research note on Wednesday, July 26th. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 target price for the company in a research note on Thursday. Drexel Hamilton reiterated a “hold” rating on shares of AT&T in a research note on Friday, June 2nd. Finally, BidaskClub upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.50.
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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