Sterneck Capital Management LLC Purchases 2,810 Shares of AT&T Inc. (NYSE:T)
Sterneck Capital Management LLC grew its position in shares of AT&T Inc. (NYSE:T) by 33.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,115 shares of the technology company’s stock after buying an additional 2,810 shares during the quarter. Sterneck Capital Management LLC’s holdings in AT&T were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado grew its stake in shares of AT&T by 5.3% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,380,340 shares of the technology company’s stock valued at $40,237,000 after purchasing an additional 69,268 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of AT&T by 9.2% during the first quarter. Driehaus Capital Management LLC now owns 10,305 shares of the technology company’s stock valued at $300,000 after purchasing an additional 871 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of AT&T by 26.6% during the first quarter. Cohen & Steers Inc. now owns 13,753 shares of the technology company’s stock valued at $401,000 after purchasing an additional 2,889 shares during the last quarter. Atom Investors LP bought a new stake in shares of AT&T during the first quarter valued at approximately $204,000. Finally, Tudor Investment Corp Et Al bought a new stake in shares of AT&T during the first quarter valued at approximately $350,000. 52.29% of the stock is currently owned by hedge funds and other institutional investors.
T opened at $27.33 on Friday. The firm’s fifty day moving average is $28.84 and its two-hundred day moving average is $29.74. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $194.73 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69. AT&T Inc. has a twelve month low of $26.08 and a twelve month high of $39.70.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.61%. The ex-dividend date is Thursday, October 8th. AT&T’s dividend payout ratio is 58.26%.
In related news, Director Stephen J. Luczo acquired 100,000 shares of the stock in a transaction dated Thursday, July 23rd. The stock was bought at an average price of $29.69 per share, with a total value of $2,969,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by corporate insiders.
Several analysts have recently commented on T shares. KeyCorp cut shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research note on Monday, October 5th. Barclays started coverage on shares of AT&T in a research note on Friday, October 2nd. They set an “overweight” rating on the stock. Morgan Stanley decreased their price target on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Royal Bank of Canada increased their price objective on shares of AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Bank of America restated a “buy” rating and issued a $36.00 price objective on shares of AT&T in a report on Friday, July 24th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $33.56.
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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