Perpetual Ltd Buys 4,800 Shares of AT&T Inc. (T)
Perpetual Ltd grew its stake in shares of AT&T Inc. (NYSE:T) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,741 shares of the technology company’s stock after purchasing an additional 4,800 shares during the quarter. Perpetual Ltd’s holdings in AT&T were worth $2,342,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of T. Price Wealth Management Inc. grew its holdings in shares of AT&T by 165.1% during the second quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock valued at $106,000 after purchasing an additional 2,064 shares during the last quarter. Chessman Wealth Strategies RIA bought a new position in shares of AT&T during the third quarter valued at approximately $114,000. Hoertkorn Richard Charles grew its holdings in shares of AT&T by 66.7% during the third quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock valued at $168,000 after purchasing an additional 2,000 shares during the last quarter. Lenox Wealth Management Inc. grew its holdings in shares of AT&T by 184.6% during the third quarter. Lenox Wealth Management Inc. now owns 5,769 shares of the technology company’s stock valued at $194,000 after purchasing an additional 3,742 shares during the last quarter. Finally, ELM Advisors LLC bought a new position in shares of AT&T during the third quarter valued at approximately $195,000. Institutional investors own 63.35% of the company’s stock.
T has been the subject of several recent research reports. Bank of America reaffirmed a “buy” rating and set a $37.00 target price on shares of AT&T in a report on Friday, December 14th. Argus reaffirmed a “buy” rating and set a $48.00 target price on shares of AT&T in a report on Friday, October 26th. Cowen upped their target price on AT&T from $34.00 to $36.00 in a report on Sunday, December 9th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and set a $31.82 target price for the company in a report on Sunday, December 9th. Finally, Citigroup raised AT&T from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.89.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.86 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.86. The business had revenue of $47.99 billion during the quarter, compared to the consensus estimate of $48.50 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, analysts predict that AT&T Inc. will post 3.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 6.79%. This is an increase from AT&T’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, January 9th. AT&T’s dividend payout ratio is 66.89%.
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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