Polaris Greystone Financial Group LLC Has $29.31 Million Position in AT&T Inc. (NYSE:T)
Polaris Greystone Financial Group LLC grew its holdings in AT&T Inc. (NYSE:T) by 2.0% in the 3rd quarter, Holdings Channel reports. The fund owned 790,451 shares of the technology company’s stock after purchasing an additional 15,705 shares during the quarter. AT&T comprises 2.4% of Polaris Greystone Financial Group LLC’s portfolio, making the stock its 10th biggest holding. Polaris Greystone Financial Group LLC’s holdings in AT&T were worth $29,310,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. TrimTabs Asset Management LLC acquired a new stake in AT&T in the third quarter worth about $1,244,000. TRUE Private Wealth Advisors increased its position in AT&T by 6.5% in the third quarter. TRUE Private Wealth Advisors now owns 55,764 shares of the technology company’s stock worth $2,110,000 after purchasing an additional 3,423 shares during the period. SevenBridge Financial Group LLC increased its position in AT&T by 2.1% in the third quarter. SevenBridge Financial Group LLC now owns 58,178 shares of the technology company’s stock worth $2,201,000 after purchasing an additional 1,177 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in AT&T by 6.5% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 9,736 shares of the technology company’s stock worth $369,000 after purchasing an additional 590 shares during the period. Finally, Gateway Advisory LLC acquired a new stake in AT&T in the third quarter worth about $216,000. 53.02% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on T. Cowen set a $40.00 price objective on AT&T and gave the stock a “buy” rating in a research report on Friday, September 6th. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price on the stock in a report on Thursday, July 25th. Morgan Stanley set a $37.00 target price on AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. set a $39.00 target price on AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Oppenheimer set a $41.00 target price on AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $38.43.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The firm had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. During the same period in the prior year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 3.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.50%. AT&T’s payout ratio is 57.95%.
In other news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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