Stralem & Co. Inc. Boosts Position in AT&T Inc. (T)
Stralem & Co. Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 657,919 shares of the technology company’s stock after buying an additional 11,530 shares during the period. AT&T comprises approximately 2.9% of Stralem & Co. Inc.’s investment portfolio, making the stock its 19th largest position. Stralem & Co. Inc.’s holdings in AT&T were worth $24,823,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Ullmann Financial Group Inc. bought a new position in AT&T during the first quarter worth $101,000. Feltz Wealth PLAN Inc. bought a new position in AT&T during the first quarter worth $104,000. Taylor Wealth Management Partners increased its position in AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after buying an additional 11 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in AT&T during the first quarter worth $109,000. Finally, Sterling Investment Advisors Ltd. increased its position 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 worth $113,000 after buying an additional 2,024 shares in the last quarter. 55.28% of the stock is owned by hedge funds and other institutional investors.
AT&T Inc. (NYSE:T) traded down 0.117% during mid-day trading on Thursday, hitting $38.315. 6,623,032 shares of the stock traded hands. The company’s 50 day moving average is $37.57 and its 200 day moving average is $39.68. The company has a market cap of $235.25 billion, a P/E ratio of 18.005 and a beta of 0.47. AT&T Inc. has a 12 month low of $35.81 and a 12 month high of $43.48.
AT&T (NYSE:T) last issued its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The firm had revenue of $39.84 billion during the quarter, compared to analyst estimates of $39.84 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. AT&T’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts expect that AT&T Inc. will post $2.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.11%. AT&T’s dividend payout ratio is 92.45%.
A number of research firms have recently weighed in on T. Deutsche Bank AG reissued a “hold” rating and set a $41.00 target price (down from $42.00) on shares of AT&T in a research report on Saturday, April 29th. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Royal Bank Of Canada set a $42.00 target price on shares of AT&T and gave the company a “hold” rating in a research report on Saturday, May 20th. Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $39.81 target price for the company in a research report on Wednesday, June 21st. Finally, SunTrust Banks, Inc. began coverage on shares of AT&T in a research report on Tuesday, April 18th. They set a “hold” rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the stock. AT&T has a consensus rating of “Hold” and an average price target of $43.40.
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.
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.