Wedgewood Investors Inc. PA Trims Stake in AT&T Inc. (T)
Wedgewood Investors Inc. PA lowered its stake in AT&T Inc. (NYSE:T) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,403 shares of the technology company’s stock after selling 1,553 shares during the period. AT&T makes up approximately 1.7% of Wedgewood Investors Inc. PA’s investment portfolio, making the stock its 16th biggest position. Wedgewood Investors Inc. PA’s holdings in AT&T were worth $1,008,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in T. CKW Financial Group boosted its position in shares of AT&T by 105.0% during the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after buying an additional 2,159 shares during the period. Braun Bostich & Associates Inc. purchased a new position in shares of AT&T during the first quarter valued at approximately $137,000. Elmwood Wealth Management Inc. purchased a new position in shares of AT&T during the first quarter valued at approximately $178,000. Cerebellum GP LLC purchased a new position in shares of AT&T during the second quarter valued at approximately $178,000. Finally, Bristol John W & Co. Inc. NY purchased a new position in shares of AT&T during the first quarter valued at approximately $201,000. Institutional investors own 64.81% of the company’s stock.
Several brokerages have issued reports on T. Zacks Investment Research lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Deutsche Bank boosted their target price on AT&T from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, September 24th. Barclays set a $33.00 target price on AT&T and gave the company a “hold” rating in a research report on Wednesday, October 10th. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and boosted their target price for the company from $33.00 to $38.00 in a research report on Friday, September 21st. They noted that the move was a valuation call. Finally, ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $37.86.
AT&T stock opened at $30.69 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. AT&T Inc. has a fifty-two week low of $28.85 and a fifty-two week high of $39.33. The company has a market cap of $190.92 billion, a PE ratio of 9.04, a P/E/G ratio of 2.48 and a beta of 0.42.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The company had revenue of $45.74 billion for the quarter, compared to the consensus estimate of $45.73 billion. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 3.51 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.52%. The ex-dividend date of this dividend was Tuesday, October 9th. AT&T’s dividend payout ratio is presently 65.57%.
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AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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