440 Investment Group LLC Acquires 5,150 Shares of AT&T Inc. (T)
440 Investment Group LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 38.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,450 shares of the technology company’s stock after acquiring an additional 5,150 shares during the quarter. 440 Investment Group LLC’s holdings in AT&T were worth $696,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. B & T Capital Management DBA Alpha Capital Management raised its position in shares of AT&T by 183.5% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 14,074 shares of the technology company’s stock valued at $585,000 after purchasing an additional 9,109 shares during the period. Founders Capital Management LLC raised its position in shares of AT&T by 1.1% in the first quarter. Founders Capital Management LLC now owns 232,258 shares of the technology company’s stock valued at $9,650,000 after purchasing an additional 2,530 shares during the period. Headinvest LLC raised its position in shares of AT&T by 4.1% in the first quarter. Headinvest LLC now owns 27,995 shares of the technology company’s stock valued at $1,163,000 after purchasing an additional 1,113 shares during the period. Excalibur Management Corp raised its position in shares of AT&T by 0.4% in the first quarter. Excalibur Management Corp now owns 183,507 shares of the technology company’s stock valued at $7,625,000 after purchasing an additional 646 shares during the period. Finally, Northpointe Capital LLC raised its position in shares of AT&T by 20.3% in the first quarter. Northpointe Capital LLC now owns 202,224 shares of the technology company’s stock valued at $8,402,000 after purchasing an additional 34,090 shares during the period. 55.21% of the stock is currently owned by hedge funds and other institutional investors.
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A number of research firms have recently commented on T. Canaccord Genuity reissued a “buy” rating and issued a $51.00 price target on shares of AT&T in a research report on Friday. Citigroup Inc. raised their price objective on shares of AT&T from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday. Standpoint Research began coverage on shares of AT&T in a research note on Wednesday, November 8th. They issued a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research upgraded shares of AT&T from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $36.00 price objective on shares of AT&T in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.48.
In other AT&T news, Director Matthew K. Rose purchased 29,600 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was acquired 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 of the company’s stock, valued at approximately $104,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.
AT&T Inc. (NYSE T) opened at $34.17 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.23. AT&T Inc. has a twelve month low of $32.55 and a twelve month high of $43.03. The stock has a market capitalization of $210,076.59, a PE ratio of 11.68, a P/E/G ratio of 2.76 and a beta of 0.42.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. research analysts predict that AT&T Inc. will post 2.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.74%. AT&T’s dividend payout ratio is 94.69%.
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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