Martingale Asset Management L P Has $26.93 Million Holdings in AT&T Inc. (T)
Martingale Asset Management L P cut its holdings in AT&T Inc. (NYSE:T) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 838,685 shares of the technology company’s stock after selling 6,194 shares during the period. Martingale Asset Management L P’s holdings in AT&T were worth $26,931,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of T. Greenwood Gearhart Inc. increased its position in shares of AT&T by 7.4% during the second quarter. Greenwood Gearhart Inc. now owns 187,449 shares of the technology company’s stock worth $6,019,000 after purchasing an additional 12,865 shares in the last quarter. Homrich & Berg increased its position in shares of AT&T by 4.4% during the second quarter. Homrich & Berg now owns 725,584 shares of the technology company’s stock worth $23,298,000 after purchasing an additional 30,288 shares in the last quarter. Securian Asset Management Inc increased its position in shares of AT&T by 21.5% during the second quarter. Securian Asset Management Inc now owns 750,482 shares of the technology company’s stock worth $24,098,000 after purchasing an additional 132,872 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of AT&T during the second quarter worth about $1,228,000. Finally, Chemical Bank increased its position in shares of AT&T by 9.8% during the second quarter. Chemical Bank now owns 225,624 shares of the technology company’s stock worth $7,245,000 after purchasing an additional 20,162 shares in the last quarter. Institutional investors own 63.84% of the company’s stock.
T has been the topic of a number of research analyst reports. Bank of America upgraded AT&T from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Monday, July 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, July 24th. Argus reiterated a “buy” rating and set a $48.00 target price on shares of AT&T in a research report on Friday, October 26th. Macquarie reiterated a “buy” rating and set a $35.00 target price on shares of AT&T in a research report on Wednesday, September 12th. Finally, Wells Fargo & Co lowered AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 price target on the stock. in a report on Wednesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.59.
AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $45.74 billion during the quarter, compared to analysts’ expectations of $45.73 billion. During the same period in the prior year, the firm posted $0.74 EPS. AT&T’s revenue for the quarter was up 15.3% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 3.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date was Tuesday, October 9th. AT&T’s dividend payout ratio is presently 65.57%.
In other AT&T news, Director Michael B. Mccallister acquired 4,000 shares of the stock in a transaction on Friday, October 26th. The shares were bought at an average price of $29.14 per share, with a total value of $116,560.00. Following the acquisition, the director now owns 7,361 shares of the company’s stock, valued at $214,499.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.
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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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