57,937 Shares in AT&T Inc. (T) Purchased by Verition Fund Management LLC
Verition Fund Management LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 57,937 shares of the technology company’s stock, valued at approximately $2,065,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Telemus Capital LLC lifted its holdings in AT&T by 29.8% in the 4th quarter. Telemus Capital LLC now owns 77,362 shares of the technology company’s stock valued at $3,008,000 after purchasing an additional 17,760 shares in the last quarter. Stuart Chaussee & Associates Inc. lifted its holdings in AT&T by 376.7% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 9,363 shares of the technology company’s stock valued at $364,000 after purchasing an additional 7,399 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in AT&T in the 4th quarter valued at about $732,000. SeaCrest Wealth Management LLC purchased a new position in AT&T in the 4th quarter valued at about $9,837,000. Finally, Rockefeller Financial Services Inc. lifted its holdings in AT&T by 67.7% in the 4th quarter. Rockefeller Financial Services Inc. now owns 59,152 shares of the technology company’s stock valued at $2,300,000 after purchasing an additional 23,880 shares in the last quarter. 56.08% of the stock is owned by institutional investors.
T opened at $33.03 on Friday. The company has a market cap of $198.04 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 2.67 and a beta of 0.43. AT&T Inc. has a 1 year low of $30.13 and a 1 year high of $39.80. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.81 and a quick ratio of 0.81.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Tuesday, July 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date was Monday, July 9th. AT&T’s dividend payout ratio (DPR) is presently 65.57%.
In other AT&T news, Director Matthew K. Rose bought 65,500 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was purchased at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the transaction, the director now owns 81,319 shares in the company, valued at $2,481,042.69. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Piazza Samuel A. Jr. Di acquired 7,690 shares of the stock in a transaction on Wednesday, August 8th. The stock was purchased at an average cost of $32.48 per share, with a total value of $249,771.20. Following the transaction, the director now directly owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on T shares. SunTrust Banks reduced their target price on shares of AT&T to $35.00 and set a “hold” rating on the stock in a report on Thursday, May 3rd. Moffett Nathanson lowered shares of AT&T from a “neutral” rating to a “sell” rating and reduced their target price for the company from $35.00 to $28.00 in a report on Wednesday, June 13th. Morgan Stanley restated an “overweight” rating and issued a $37.00 target price on shares of AT&T in a report on Wednesday, June 27th. ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Tuesday, July 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $38.21.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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