Gilbert & Cook Inc. lifted its stake in AT&T Inc. (NYSE:T) by 5.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,049 shares of the technology company’s stock after purchasing an additional 823 shares during the quarter. Gilbert & Cook Inc.’s holdings in AT&T were worth $607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of T. Ancora Advisors LLC raised its holdings in AT&T by 1.3% in the 2nd quarter. Ancora Advisors LLC now owns 351,407 shares of the technology company’s stock worth $11,776,000 after purchasing an additional 4,370 shares during the period. Kavar Capital Partners LLC boosted its position in shares of AT&T by 3.0% during the 2nd quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock valued at $3,318,000 after purchasing an additional 2,914 shares in the last quarter. Investment Partners LTD. boosted its position in shares of AT&T by 36.5% during the 2nd quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 8,892 shares in the last quarter. JGP Wealth Management LLC boosted its position in shares of AT&T by 2.7% during the 2nd quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock valued at $4,363,000 after purchasing an additional 3,373 shares in the last quarter. Finally, Marco Investment Management LLC boosted its position in shares of AT&T by 16.2% during the 2nd quarter. Marco Investment Management LLC now owns 62,639 shares of the technology company’s stock valued at $2,099,000 after purchasing an additional 8,734 shares in the last quarter. 52.94% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of AT&T from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday. Sanford C. Bernstein assumed coverage on shares of AT&T in a research report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 price objective for the company. DZ Bank restated a “hold” rating and set a $38.00 price objective on shares of AT&T in a research report on Wednesday, September 18th. Cowen set a $40.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. AT&T presently has an average rating of “Hold” and an average target price of $40.74.
AT&T (NYSE:T) last announced its earnings results on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The company had revenue of $44.59 billion during the quarter, compared to analysts’ expectations of $45.45 billion. During the same period last year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts expect that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend was Wednesday, October 9th. 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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