Lumbard & Kellner LLC Purchases 1,755 Shares of AT&T Inc. (T)
Lumbard & Kellner LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 78,200 shares of the technology company’s stock after buying an additional 1,755 shares during the period. AT&T comprises approximately 1.9% of Lumbard & Kellner LLC’s holdings, making the stock its 20th largest position. Lumbard & Kellner LLC’s holdings in AT&T were worth $3,249,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in AT&T during the fourth quarter worth about $2,416,759,000. Westwood Holdings Group Inc. raised its position 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 raised its position 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. raised its position 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, Schwab Charles Investment Management Inc. raised its position in AT&T by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock worth $928,960,000 after buying an additional 985,330 shares during the period. Institutional investors own 55.28% of the company’s stock.
Shares of AT&T Inc. (T) traded down 0.24% during mid-day trading on Friday, reaching $38.10. 13,278,982 shares of the company’s stock traded hands. AT&T Inc. has a 1-year low of $35.81 and a 1-year high of $43.32. The company has a market capitalization of $233.93 billion, a P/E ratio of 17.90 and a beta of 0.47. The firm has a 50-day moving average price of $37.57 and a 200-day moving average price of $39.64.
AT&T (NYSE:T) last posted its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The business 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post $2.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.14%. AT&T’s payout ratio is presently 92.45%.
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T has been the topic of a number of recent research reports. Royal Bank Of Canada restated a “hold” rating and issued a $42.00 target price on shares of AT&T in a report on Sunday, July 9th. Tigress Financial upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 9th. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $41.56 target price on the stock in a report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating and issued a $48.00 target price on shares of AT&T in a report on Wednesday, April 19th. Finally, Zacks Investment Research lowered shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target 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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