Taurus Asset Management LLC Reduces Position in AT&T Inc. (T)
Taurus Asset Management LLC decreased its holdings in AT&T Inc. (NYSE:T) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,162 shares of the technology company’s stock after selling 3,673 shares during the quarter. Taurus Asset Management LLC’s holdings in AT&T were worth $1,063,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ullmann Financial Group Inc. bought a new stake in AT&T during the 1st quarter worth approximately $101,000. Almanack Investment Partners LLC. bought a new stake in AT&T during the 1st quarter worth approximately $109,000. Sterling Investment Advisors Ltd. raised its stake in AT&T by 289.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock worth $113,000 after acquiring an additional 2,024 shares during the period. CKW Financial Group raised its stake in AT&T by 83.9% during the 2nd quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock worth $144,000 after acquiring an additional 1,724 shares during the period. Finally, Asset Planning Services Ltd. raised its stake in AT&T by 2.5% during the 2nd quarter. Asset Planning Services Ltd. now owns 4,273 shares of the technology company’s stock worth $161,000 after acquiring an additional 104 shares during the period. 55.32% of the stock is currently owned by institutional investors.
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A number of equities research analysts have commented on the stock. Canaccord Genuity restated a “buy” rating and set a $51.00 target price on shares of AT&T in a research note on Friday, November 10th. Citigroup Inc. raised their target price on shares of AT&T from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Standpoint Research started coverage on shares of AT&T in a research report on Wednesday, November 8th. They set a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research upgraded shares of AT&T from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and set a $36.00 price objective on shares of AT&T in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $43.48.
In related news, Director Matthew K. Rose bought 29,600 shares of the stock in a transaction dated Wednesday, October 25th. The stock was purchased at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the purchase, the director now owns 3,100 shares of the company’s stock, valued at $104,625. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.
AT&T Inc. (NYSE T) opened at $34.64 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $213,020.00, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 2.78 and a beta of 0.41. AT&T Inc. has a one year low of $32.55 and a one year high of $43.03.
AT&T (NYSE:T) last posted its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing the 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 return on equity of 14.49% and a net margin of 8.00%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. equities analysts anticipate that AT&T Inc. will post 2.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.66%. The ex-dividend date was Friday, October 6th. AT&T’s payout ratio is 94.23%.
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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