Stephens Inc. AR cut its stake in AT&T Inc. (NYSE:T) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,081,958 shares of the technology company’s stock after selling 131,108 shares during the period. AT&T accounts for about 0.9% of Stephens Inc. AR’s portfolio, making the stock its 14th largest position. Stephens Inc. AR’s holdings in AT&T were worth $30,879,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in T. Tredje AP fonden boosted its stake in AT&T by 52.6% during the 4th quarter. Tredje AP fonden now owns 481,098 shares of the technology company’s stock worth $13,731,000 after purchasing an additional 165,758 shares during the last quarter. Clarius Group LLC boosted its position in shares of AT&T by 11.2% during the 4th quarter. Clarius Group LLC now owns 21,352 shares of the technology company’s stock valued at $609,000 after acquiring an additional 2,150 shares during the last quarter. Garrison Point Advisors LLC acquired a new position in shares of AT&T during the 4th quarter valued at about $317,000. Smart Portfolios LLC boosted its position in shares of AT&T by 44.8% during the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock valued at $46,000 after acquiring an additional 500 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of AT&T by 7.4% during the 4th quarter. Clearstead Advisors LLC now owns 44,354 shares of the technology company’s stock valued at $1,266,000 after acquiring an additional 3,073 shares during the last quarter. Institutional investors own 52.91% of the company’s stock.
A number of research firms have commented on T. ValuEngine raised shares of AT&T from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Bank of America reissued a “buy” rating and issued a $37.00 price objective on shares of AT&T in a report on Monday, June 24th. Desjardins reiterated an “average” rating and issued a $56.50 price objective on shares of AT&T in a research report on Friday, April 5th. Finally, Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Friday, March 15th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $36.31.
AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.86. The company had revenue of $44.83 billion for the quarter, compared to analyst estimates of $45.20 billion. AT&T had a return on equity of 13.16% and a net margin of 10.59%. AT&T’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. As a group, research analysts anticipate that AT&T Inc. will post 3.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 6.10%. AT&T’s payout ratio is 57.95%.
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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