Wedgewood Partners Inc. Maintains Stake in AT&T Inc. (NYSE:T)
Wedgewood Partners Inc. held its position in shares of AT&T Inc. (NYSE:T) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,575 shares of the technology company’s stock at the end of the first quarter. Wedgewood Partners Inc.’s holdings in AT&T were worth $397,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of T. Feltz Wealth PLAN Inc. acquired a new stake in AT&T during the first quarter worth about $104,000. Taylor Wealth Management Partners raised its stake 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 during the period. Asset Planning Services Ltd. raised its stake in AT&T by 26.6% in the first quarter. Asset Planning Services Ltd. now owns 4,169 shares of the technology company’s stock worth $173,000 after buying an additional 877 shares during the period. Israel Discount Bank of New York GFN acquired a new stake in AT&T during the fourth quarter worth about $196,000. Finally, Toth Financial Advisory Corp acquired a new stake in AT&T during the first quarter worth about $214,000. 55.28% of the stock is currently owned by institutional investors and hedge funds.
AT&T Inc. (NYSE:T) traded down 0.24% during midday trading on Friday, reaching $38.10. The company had a trading volume of 13,278,982 shares. AT&T Inc. has a 12-month low of $35.81 and a 12-month high of $43.32. The stock has a 50-day moving average price of $37.57 and a 200 day moving average price of $39.64. The company has a market capitalization of $233.93 billion, a PE ratio of 17.90 and a beta of 0.47.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. Equities analysts forecast that AT&T Inc. will post $2.95 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid 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 yield of 5.14%. AT&T’s dividend payout ratio (DPR) is currently 92.45%.
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T has been the topic of a number of research analyst reports. Vetr raised AT&T from a “hold” rating to a “buy” rating and set a $39.97 target price on the stock in a report on Wednesday, May 17th. Macquarie reissued a “buy” rating and set a $45.00 price objective (down previously from $46.00) on shares of AT&T in a report on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating and set a $48.00 price objective on shares of AT&T in a report on Wednesday, April 19th. Barclays PLC decreased their price objective on AT&T from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, July 14th. Finally, Royal Bank Of Canada set a $42.00 price objective on AT&T and gave the stock a “hold” rating in a report on Saturday, May 20th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. AT&T has a consensus rating of “Hold” and a consensus target price of $43.50.
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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