Woodstock Corp lowered its stake in AT&T Inc. (NYSE:T) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,774 shares of the technology company’s stock after selling 2,617 shares during the quarter. Woodstock Corp’s holdings in AT&T were worth $1,142,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Lion Street Advisors LLC purchased a new stake in AT&T during the first quarter worth about $27,000. Horan Securities Inc. acquired a new position in shares of AT&T during the 1st quarter worth about $28,000. CBIZ Investment Advisory Services LLC boosted its holdings in AT&T by 186.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock valued at $28,000 after purchasing an additional 623 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of AT&T in the 1st quarter valued at $34,000. Finally, Efficient Wealth Management LLC purchased a new position in AT&T during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 53.84% of the company’s stock.
NYSE:T traded down $0.08 on Tuesday, hitting $30.41. 14,646,339 shares of the stock were exchanged, compared to its average volume of 39,690,568. The stock has a fifty day moving average of $30.50 and a 200-day moving average of $33.61. The stock has a market cap of $218.56 billion, a PE ratio of 15.45, a PEG ratio of 1.70 and a beta of 0.72. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.75. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70.
AT&T (NYSE:T) last posted its earnings results on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.01). AT&T had a return on equity of 13.27% and a net margin of 8.05%. The business had revenue of $42.78 billion for the quarter, compared to analyst estimates of $44.75 billion. During the same period last year, the company posted $0.86 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 3.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, July 9th. This represents a $2.08 annualized dividend and a yield of 6.84%. AT&T’s dividend payout ratio is currently 58.26%.
In related news, Director Stephen J. Luczo bought 36,000 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was bought at an average price of $29.38 per share, with a total value of $1,057,680.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geoffrey Y. Yang bought 6,754 shares of the stock in a transaction dated Friday, April 24th. The stock was bought at an average price of $29.39 per share, with a total value of $198,500.06. Following the purchase, the director now owns 9,398 shares of the company’s stock, valued at approximately $276,207.22. The disclosure for this purchase can be found here. 0.07% of the stock is owned by corporate insiders.
T has been the subject of several analyst reports. Deutsche Bank decreased their price target on AT&T from $45.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Credit Suisse Group reduced their price objective on AT&T from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Morgan Stanley lowered 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 report on Wednesday, July 1st. Citigroup reduced their target price on AT&T from $42.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, Zacks Investment Research downgraded AT&T from a “hold” rating to a “sell” rating and set a $33.00 price target for the company. in a research report on Wednesday, May 27th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.94.
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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