Sterneck Capital Management LLC Purchases 2,810 Shares of AT&T Inc. (NYSE:T)
Sterneck Capital Management LLC lifted its position in AT&T Inc. (NYSE:T) by 33.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,115 shares of the technology company’s stock after acquiring an additional 2,810 shares during the quarter. Sterneck Capital Management LLC’s holdings in AT&T were worth $317,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jaffetilchin Investment Partners LLC grew its stake in shares of AT&T by 10.4% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock worth $37,000 after acquiring an additional 1,248 shares in the last quarter. NWK Group Inc. bought a new stake in shares of AT&T in the 2nd quarter worth $65,000. JJJ Advisors Inc. grew its stake in shares of AT&T by 212.3% in the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,507 shares in the last quarter. Provident Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter worth $70,000. Finally, Litman Gregory Asset Management LLC grew its stake in shares of AT&T by 844.0% in the 2nd quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after acquiring an additional 2,667 shares in the last quarter. Hedge funds and other institutional investors own 52.29% of the company’s stock.
Several equities analysts recently weighed in on the stock. KeyCorp lowered shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price target for the company. in a research report on Monday, October 5th. Morgan Stanley reduced their price target on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Royal Bank of Canada increased their price target on shares of AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and reduced their price target for the company from $34.00 to $30.00 in a research report on Monday, August 31st. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.56.
Shares of AT&T stock opened at $27.33 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. AT&T Inc. has a 52-week low of $26.08 and a 52-week high of $39.70. The stock has a market capitalization of $194.73 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.64 and a beta of 0.69. The company’s 50 day moving average price is $28.84 and its 200-day moving average price is $29.74.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The firm had revenue of $40.95 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter last year, the business earned $0.89 earnings per share. The business’s revenue was down 8.9% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 3.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 7.61%. The ex-dividend date is Thursday, October 8th. AT&T’s dividend payout ratio is 58.26%.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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