Burleson & Company LLC boosted its position in AT&T Inc. (NYSE:T) by 9.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 69,542 shares of the technology company’s stock after acquiring an additional 6,067 shares during the period. AT&T accounts for approximately 1.3% of Burleson & Company LLC’s portfolio, making the stock its 19th largest holding. Burleson & Company LLC’s holdings in AT&T were worth $2,233,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. CKW Financial Group raised its stake in AT&T by 105.0% in the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after acquiring an additional 2,159 shares during the period. Braun Bostich & Associates Inc. purchased a new position in AT&T during the 1st quarter valued at about $137,000. Elmwood Wealth Management Inc. purchased a new position in AT&T during the 1st quarter valued at about $178,000. Cerebellum GP LLC purchased a new position in AT&T during the 2nd quarter valued at about $178,000. Finally, Bristol John W & Co. Inc. NY purchased a new position in AT&T during the 1st quarter valued at about $201,000. Institutional investors and hedge funds own 64.63% of the company’s stock.
In other AT&T news, Director Piazza Samuel A. Jr. Di acquired 7,690 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was bought at an average price of $32.48 per share, with a total value of $249,771.20. Following the completion of the acquisition, the director now owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew K. Rose acquired 65,500 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were acquired at an average cost of $30.51 per share, with a total value of $1,998,405.00. Following the acquisition, the director now directly owns 81,319 shares of the company’s stock, valued at approximately $2,481,042.69. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.
AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The company had revenue of $38.99 billion during the quarter, compared to analyst estimates of $38.45 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. AT&T’s revenue was down 2.1% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 3.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.20%. The ex-dividend date is Tuesday, October 9th. AT&T’s payout ratio is 65.57%.
A number of research firms have weighed in on T. Barclays set a $33.00 target price on AT&T and gave the company a “hold” rating in a report on Wednesday. Raymond James lowered AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 target price for the company. in a report on Friday, July 13th. Zacks Investment Research lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. JPMorgan Chase & Co. began coverage on AT&T in a report on Tuesday, June 19th. They set a “neutral” rating and a $36.00 target price for the company. Finally, ValuEngine raised AT&T from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $37.82.
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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