Howland Capital Management LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 7.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,847 shares of the technology company’s stock after selling 3,028 shares during the period. Howland Capital Management LLC’s holdings in AT&T were worth $1,404,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. bought a new position in AT&T in the 2nd quarter worth about $314,000. Almanack Investment Partners LLC. bought a new stake in shares of AT&T during the 1st quarter valued at about $109,000. New Capital Management LP boosted its position in shares of AT&T by 130.9% during the 3rd quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock valued at $104,000 after acquiring an additional 1,500 shares during the last quarter. Macroview Investment Management LLC boosted its position in shares of AT&T by 144.3% during the 3rd quarter. Macroview Investment Management LLC now owns 2,700 shares of the technology company’s stock valued at $106,000 after acquiring an additional 1,595 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. boosted its position in shares of AT&T by 289.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after acquiring an additional 2,024 shares during the last quarter. 55.76% of the stock is owned by hedge funds and other institutional investors.
T has been the subject of a number of recent research reports. SunTrust Banks restated a “hold” rating and issued a $36.00 target price on shares of AT&T in a research report on Friday, October 27th. Nomura decreased their price target on AT&T to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, November 21st. Standpoint Research initiated coverage on AT&T in a research note on Wednesday, November 8th. They issued a “buy” rating and a $40.00 price target on the stock. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $40.58 price target on the stock in a research note on Monday, October 16th. Finally, Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. AT&T has an average rating of “Hold” and a consensus price target of $42.59.
AT&T (NYSE:T) last released its earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). The company had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. sell-side analysts anticipate that AT&T Inc. will post 2.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.50 per share. This is an increase from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date is Tuesday, January 9th. AT&T’s dividend payout ratio is presently 96.15%.
In other AT&T news, Director Matthew K. Rose purchased 29,600 shares of the stock in a transaction dated Wednesday, October 25th. The shares were purchased at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now directly owns 3,100 shares in the company, valued at approximately $104,625. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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