Buckingham Asset Management LLC Purchases 12,560 Shares of AT&T Inc. (T)
Buckingham Asset Management LLC increased its position in AT&T Inc. (NYSE:T) by 19.6% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 76,741 shares of the company’s stock after buying an additional 12,560 shares during the period. AT&T comprises 1.1% of Buckingham Asset Management LLC’s portfolio, making the stock its 16th largest position. Buckingham Asset Management LLC’s holdings in AT&T were worth $3,116,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. 1st Global Advisors Inc. raised its position in AT&T by 3.7% in the third quarter. 1st Global Advisors Inc. now owns 121,578 shares of the company’s stock valued at $4,937,000 after buying an additional 4,319 shares during the last quarter. Parsec Financial Management Inc. raised its position in AT&T by 7.2% in the third quarter. Parsec Financial Management Inc. now owns 176,015 shares of the company’s stock valued at $7,148,000 after buying an additional 11,883 shares during the last quarter. Paragon Capital Management Ltd raised its position in AT&T by 8.1% in the third quarter. Paragon Capital Management Ltd now owns 8,108 shares of the company’s stock valued at $329,000 after buying an additional 608 shares during the last quarter. Bank of Stockton raised its position in AT&T by 35.7% in the third quarter. Bank of Stockton now owns 32,924 shares of the company’s stock valued at $1,337,000 after buying an additional 8,669 shares during the last quarter. Finally, Crossvault Capital Management LLC raised its position in AT&T by 4.0% in the third quarter. Crossvault Capital Management LLC now owns 82,178 shares of the company’s stock valued at $3,337,000 after buying an additional 3,142 shares during the last quarter. 52.80% of the stock is owned by institutional investors.
Shares of AT&T Inc. (NYSE:T) traded down 0.27% during mid-day trading on Friday, reaching $40.90. The company’s stock had a trading volume of 7,509,650 shares. The company has a 50 day moving average price of $41.09 and a 200 day moving average price of $40.59. The stock has a market capitalization of $251.17 billion, a P/E ratio of 17.40 and a beta of 0.37. AT&T Inc. has a 12 month low of $33.43 and a 12 month high of $43.89.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be issued a dividend of $0.49 per share. This is a positive change from AT&T’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, January 6th. AT&T’s dividend payout ratio (DPR) is 83.40%.
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Several equities analysts recently commented on the company. Vetr lowered AT&T from a “buy” rating to a “hold” rating and set a $40.78 target price for the company. in a research note on Wednesday, October 12th. Drexel Hamilton lowered AT&T from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Cowen and Company lowered AT&T from an “outperform” rating to a “market perform” rating in a research note on Monday, October 24th. Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a research report on Monday, October 17th. Finally, Independent Research GmbH raised AT&T from a “sell” rating to a “hold” rating and boosted their price target for the company from $36.00 to $39.00 in a research report on Wednesday, October 26th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $43.16.
In related news, Director Geoffrey Y. Yang bought 27,129 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were bought at an average cost of $36.91 per share, for a total transaction of $1,001,331.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.
AT&T Company Profile
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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