AT&T Inc. (NYSE:T) Stake Raised by Fort Point Capital Partners LLC
Fort Point Capital Partners LLC boosted its stake in AT&T Inc. (NYSE:T) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,938 shares of the technology company’s stock after buying an additional 2,884 shares during the period. AT&T accounts for about 0.7% of Fort Point Capital Partners LLC’s investment portfolio, making the stock its 27th largest position. Fort Point Capital Partners LLC’s holdings in AT&T were worth $1,410,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Feltz Wealth PLAN Inc. purchased a new stake in AT&T during the first quarter valued at $104,000. Taylor Wealth Management Partners raised its stake in AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after buying an additional 11 shares during the last quarter. Asset Planning Services Ltd. raised its stake in AT&T by 26.6% in the first quarter. Asset Planning Services Ltd. now owns 4,169 shares of the technology company’s stock valued at $173,000 after buying an additional 877 shares during the last quarter. Israel Discount Bank of New York GFN purchased a new stake in AT&T during the fourth quarter valued at $196,000. Finally, Toth Financial Advisory Corp purchased a new stake in AT&T during the first quarter valued at $214,000. 55.28% of the stock is owned by institutional investors.
AT&T Inc. (T) traded down 0.24% during midday trading on Friday, reaching $38.10. 13,278,982 shares of the company traded hands. The company has a 50 day moving average of $37.57 and a 200-day moving average of $39.64. The stock has a market capitalization of $233.93 billion, a P/E ratio of 17.90 and a beta of 0.47. AT&T Inc. has a 12-month low of $35.81 and a 12-month high of $43.32.
AT&T (NYSE:T) last issued its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The business had revenue of $39.84 billion for the quarter, compared to analyst estimates of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. AT&T’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities analysts anticipate that AT&T Inc. will post $2.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Thursday, July 6th. AT&T’s dividend payout ratio is presently 92.45%.
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Several analysts have recently weighed in on the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $41.00 price objective (down previously from $42.00) on shares of AT&T in a report on Saturday, April 29th. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Royal Bank Of Canada set a $42.00 price target on shares of AT&T and gave the company a “hold” rating in a report on Saturday, May 20th. Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $39.81 price target for the company in a report on Wednesday, June 21st. Finally, SunTrust Banks, Inc. began coverage on shares of AT&T in a report on Tuesday, April 18th. They issued a “hold” rating and a $40.00 price target for the company. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. AT&T presently has an average rating of “Hold” and an average price target of $43.50.
AT&T Company Profile
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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