AT&T Inc. (T) Holdings Reduced by Navellier & Associates Inc
Navellier & Associates Inc cut its position in AT&T Inc. (NYSE:T) by 33.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,511 shares of the technology company’s stock after selling 66,030 shares during the period. Navellier & Associates Inc’s holdings in AT&T were worth $4,924,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of AT&T during the second quarter worth approximately $314,000. Ullmann Financial Group Inc. acquired a new position in shares of AT&T during the first quarter worth approximately $101,000. Almanack Investment Partners LLC. acquired a new position in AT&T in the first quarter valued at approximately $109,000. Sterling Investment Advisors Ltd. lifted its holdings in AT&T by 289.1% in the first quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after buying an additional 2,024 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new position in AT&T in the second quarter valued at approximately $134,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.
In other news, Director Matthew K. Rose bought 29,600 shares of the stock in a transaction on Wednesday, October 25th. The stock was purchased at an average price of $33.75 per share, with a total value of $999,000.00. Following the completion of the purchase, the director now owns 3,100 shares of the company’s stock, valued at $104,625. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.
AT&T (NYSE:T) last issued 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). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The firm had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same period in the previous year, the company posted $0.74 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. equities analysts forecast that AT&T Inc. will post 2.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.23%. This is an increase from AT&T’s previous quarterly dividend of $0.49. AT&T’s dividend payout ratio is presently 94.69%.
T has been the topic of several analyst reports. Jefferies Group restated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a report on Thursday, August 24th. Macquarie restated a “buy” rating and issued a $43.00 price objective on shares of AT&T in a report on Friday, September 1st. Robert W. Baird restated an “outperform” rating and issued a $43.00 price objective on shares of AT&T in a report on Thursday, September 21st. Vetr lowered shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 price objective on the stock. in a report on Tuesday, September 26th. Finally, Morgan Stanley increased their price objective on shares of AT&T from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.81.
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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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