Private Portfolio Partners LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 18.1% 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 65,212 shares of the technology company’s stock after purchasing an additional 10,014 shares during the quarter. Private Portfolio Partners LLC’s holdings in AT&T were worth $1,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of T. Newton One Investments LLC bought a new stake in AT&T during the second quarter valued at about $27,000. IronBridge Private Wealth LLC acquired a new stake in AT&T in the first quarter worth about $30,000. Interactive Financial Advisors boosted its holdings in AT&T by 65.8% in the first quarter. Interactive Financial Advisors now owns 1,101 shares of the technology company’s stock worth $33,000 after acquiring an additional 437 shares in the last quarter. Cypress Point Wealth Management LLC boosted its holdings in AT&T by 4,411.8% in the second quarter. Cypress Point Wealth Management LLC now owns 1,534 shares of the technology company’s stock worth $44,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Roble Belko & Company Inc boosted its holdings in AT&T by 21.7% in the first quarter. Roble Belko & Company Inc now owns 1,824 shares of the technology company’s stock worth $55,000 after acquiring an additional 325 shares in the last quarter. 51.61% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on T. Argus downgraded AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target for the company. in a report on Tuesday, July 27th. Loop Capital assumed coverage on AT&T in a research note on Monday. They issued a “hold” rating and a $30.00 price objective for the company. Morgan Stanley cut AT&T to an “equal weight” rating and set a $29.00 price objective for the company. in a research note on Friday, July 16th. Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, July 26th. Finally, Scotiabank upgraded AT&T from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the stock from $28.00 to $31.00 in a research note on Wednesday, June 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.10.
AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.10. The firm had revenue of $44.05 billion for the quarter, compared to analyst estimates of $42.39 billion. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. Sell-side analysts expect that AT&T Inc. will post 3.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 2nd. Shareholders of record on Friday, July 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 7.64%. The ex-dividend date of this dividend was Thursday, July 8th. AT&T’s dividend payout ratio (DPR) is currently 65.41%.
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.
Featured Article: The risks of owning bonds
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.