NEXT Financial Group Inc Raises Holdings in AT&T Inc. (T)
NEXT Financial Group Inc grew its position in shares of AT&T Inc. (NYSE:T) by 23.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 172,481 shares of the technology company’s stock after purchasing an additional 32,827 shares during the quarter. AT&T makes up about 1.3% of NEXT Financial Group Inc’s holdings, making the stock its 7th largest position. NEXT Financial Group Inc’s holdings in AT&T were worth $6,149,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Heritage Wealth Advisors acquired a new position in AT&T during the fourth quarter worth $204,000. Wrapmanager Inc. increased its holdings in AT&T by 6.9% during the fourth quarter. Wrapmanager Inc. now owns 67,785 shares of the technology company’s stock worth $2,635,000 after buying an additional 4,363 shares during the last quarter. Dempze Nancy E increased its holdings in AT&T by 37.6% during the fourth quarter. Dempze Nancy E now owns 9,572 shares of the technology company’s stock worth $373,000 after buying an additional 2,616 shares during the last quarter. CIBC Asset Management Inc increased its holdings in AT&T by 0.5% during the fourth quarter. CIBC Asset Management Inc now owns 758,145 shares of the technology company’s stock worth $29,436,000 after buying an additional 3,435 shares during the last quarter. Finally, Steinberg Global Asset Management increased its holdings in AT&T by 10.3% during the fourth quarter. Steinberg Global Asset Management now owns 241,500 shares of the technology company’s stock worth $9,390,000 after buying an additional 22,477 shares during the last quarter. 56.08% of the stock is currently owned by institutional investors.
Several equities analysts have commented on T shares. Jefferies Financial Group downgraded shares of AT&T from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.80 to $31.17 in a report on Thursday, June 7th. Macquarie reiterated a “buy” rating and issued a $40.00 price objective on shares of AT&T in a report on Sunday, April 29th. Moffett Nathanson downgraded shares of AT&T from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $35.00 to $28.00 in a report on Wednesday, June 13th. UBS Group decreased their price objective on shares of AT&T from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, April 26th. Finally, Raymond James decreased their price objective on shares of AT&T from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, April 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.21.
Shares of AT&T stock opened at $33.03 on Monday. The stock has a market capitalization of $198.04 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 2.67 and a beta of 0.43. AT&T Inc. has a 52-week low of $30.13 and a 52-week 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.
AT&T (NYSE:T) last announced its earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. The company had revenue of $38.99 billion during the quarter, compared to analysts’ expectations of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. AT&T’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 earnings per share. analysts anticipate that AT&T Inc. will post 3.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, July 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.06%. AT&T’s payout ratio is presently 65.57%.
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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