Profit Investment Management LLC Acquires 541 Shares of AT&T Inc. (NYSE:T)
Profit Investment Management LLC raised its stake in AT&T Inc. (NYSE:T) by 6.3% during the second quarter, Holdings Channel reports. The institutional investor owned 9,068 shares of the technology company’s stock after buying an additional 541 shares during the period. Profit Investment Management LLC’s holdings in AT&T were worth $342,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of T. AQR Capital Management LLC increased its position in shares of AT&T by 7.1% in the fourth quarter. AQR Capital Management LLC now owns 8,588,525 shares of the technology company’s stock valued at $365,270,000 after buying an additional 565,928 shares during the period. Guggenheim Capital LLC increased its position in shares of AT&T by 5.1% in the fourth quarter. Guggenheim Capital LLC now owns 2,689,906 shares of the technology company’s stock valued at $114,401,000 after buying an additional 131,629 shares during the period. Huff W R Asset Management Co. LLC DE increased its position in shares of AT&T by 151.4% in the fourth quarter. Huff W R Asset Management Co. LLC DE now owns 61,870 shares of the technology company’s stock valued at $2,631,000 after buying an additional 37,260 shares during the period. Banco Santander S.A. purchased a new position in shares of AT&T during the fourth quarter valued at approximately $679,000. Finally, Focused Wealth Management Inc increased its position in shares of AT&T by 2.7% in the fourth quarter. Focused Wealth Management Inc now owns 22,209 shares of the technology company’s stock valued at $945,000 after buying an additional 580 shares during the period. 55.28% of the stock is owned by institutional investors and hedge funds.
AT&T Inc. (NYSE:T) traded down 0.24% during midday trading on Friday, hitting $38.10. 13,278,982 shares of the stock were exchanged. The firm’s 50 day moving average price is $37.57 and its 200 day moving average price is $39.64. The company has a market cap of $233.93 billion, a PE ratio of 17.90 and a beta of 0.47. AT&T Inc. has a 12 month low of $35.81 and a 12 month high of $43.32.
AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 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 business 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 posted $0.72 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. 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. Stockholders 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 was Thursday, July 6th. AT&T’s payout ratio is currently 92.45%.
Several equities analysts have recently commented on the stock. Royal Bank Of Canada set a $42.00 price objective on shares of AT&T and gave the company a “hold” rating in a research note on Saturday, May 20th. Moffett Nathanson raised shares of AT&T from a “sell” rating to a “neutral” rating in a research note on Tuesday, May 30th. They noted that the move was a valuation call. Vetr downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $38.92 price objective for the company. in a research note on Monday, May 22nd. Cowen and Company reaffirmed a “market perform” rating and set a $41.00 price objective (down from $43.00) on shares of AT&T in a research note on Wednesday, July 26th. Finally, SunTrust Banks, Inc. assumed coverage on shares of AT&T in a research note on Tuesday, April 18th. They set a “hold” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.50.
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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