Marshall Wace LLP Purchases New Position in AT&T Inc. (T)
Marshall Wace LLP purchased a new position in shares of AT&T Inc. (NYSE:T) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 134,584 shares of the technology company’s stock, valued at approximately $5,114,000.
Other hedge funds have also recently bought and sold shares of the company. Hourglass Capital LLC lifted its holdings in AT&T by 1.3% during the 2nd quarter. Hourglass Capital LLC now owns 219,692 shares of the technology company’s stock worth $8,289,000 after purchasing an additional 2,745 shares in the last quarter. Boston Family Office LLC lifted its holdings in AT&T by 0.3% during the 2nd quarter. Boston Family Office LLC now owns 54,576 shares of the technology company’s stock worth $2,059,000 after purchasing an additional 166 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in AT&T during the 2nd quarter worth about $3,502,000. Investment Management of Virginia LLC lifted its holdings in AT&T by 0.7% during the 2nd quarter. Investment Management of Virginia LLC now owns 83,875 shares of the technology company’s stock worth $3,165,000 after purchasing an additional 546 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its holdings in AT&T by 13.5% during the 2nd quarter. Annex Advisory Services LLC now owns 31,629 shares of the technology company’s stock worth $1,193,000 after purchasing an additional 3,759 shares in the last quarter. Institutional investors own 55.32% of the company’s stock.
A number of analysts recently issued reports on the company. Nomura dropped their price objective on AT&T to $42.00 and set a “buy” rating on the stock in a report on Tuesday, November 21st. Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 price target on shares of AT&T in a report on Friday, November 10th. Citigroup Inc. raised their price target on AT&T from $52.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 10th. Standpoint Research initiated coverage on AT&T in a report on Wednesday, November 8th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. AT&T currently has a consensus rating of “Hold” and a consensus price target of $43.41.
Shares of AT&T Inc. (T) traded down $0.05 during midday trading on Friday, hitting $34.81. The company had a trading volume of 9,200,000 shares, compared to its average volume of 42,315,776. The stock has a market cap of $213,698.59, a PE ratio of 11.88, a price-to-earnings-growth ratio of 2.81 and a beta of 0.42. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.23. AT&T Inc. has a 52 week low of $32.55 and a 52 week high of $43.03.
AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The firm had revenue of $39.67 billion for the quarter, compared to analysts’ expectations of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. sell-side analysts anticipate that AT&T Inc. will post 2.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.63%. AT&T’s dividend payout ratio is 94.69%.
In other news, Director Matthew K. Rose acquired 29,600 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were bought at an average cost of $33.75 per share, with a total value of $999,000.00. Following the acquisition, the director now owns 3,100 shares in the company, valued at approximately $104,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.
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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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