Berkeley Capital Partners LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 7.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 33,187 shares of the technology company’s stock after selling 2,836 shares during the quarter. AT&T makes up 0.6% of Berkeley Capital Partners LLC’s investment portfolio, making the stock its 22nd largest position. Berkeley Capital Partners LLC’s holdings in AT&T were worth $1,003,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. First Command Bank grew its stake in shares of AT&T by 94.7% in the second quarter. First Command Bank now owns 136,968 shares of the technology company’s stock valued at $4,141,000 after buying an additional 66,629 shares in the last quarter. AXA lifted its holdings in AT&T by 27.9% during the 1st quarter. AXA now owns 3,527,087 shares of the technology company’s stock valued at $102,814,000 after purchasing an additional 770,426 shares during the last quarter. Empirical Finance LLC lifted its holdings in AT&T by 57.4% during the 1st quarter. Empirical Finance LLC now owns 41,362 shares of the technology company’s stock valued at $1,206,000 after purchasing an additional 15,082 shares during the last quarter. Adams Wealth Management lifted its holdings in AT&T by 23.9% during the 1st quarter. Adams Wealth Management now owns 21,853 shares of the technology company’s stock valued at $637,000 after purchasing an additional 4,210 shares during the last quarter. Finally, City Holding Co. lifted its holdings in AT&T by 3.3% during the 2nd quarter. City Holding Co. now owns 154,335 shares of the technology company’s stock valued at $4,664,000 after purchasing an additional 4,975 shares during the last quarter. 53.74% of the stock is owned by institutional investors.
In other news, Director Stephen J. Luczo acquired 100,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was bought at an average price of $29.69 per share, with a total value of $2,969,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.07% of the company’s stock.
AT&T (NYSE:T) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.04. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The firm had revenue of $40.95 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The company’s revenue was down 8.9% on a year-over-year basis. On average, analysts expect that AT&T Inc. will post 3.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 7.03%. The ex-dividend date is Thursday, July 9th. AT&T’s payout ratio is currently 58.26%.
Several equities research analysts have issued reports on T shares. Barclays reaffirmed a “hold” rating and set a $33.00 price target on shares of AT&T in a report on Friday, April 17th. Zacks Investment Research downgraded AT&T from a “hold” rating to a “sell” rating and set a $33.00 price target for the company. in a report on Wednesday, May 27th. Morgan Stanley cut their price target on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Oppenheimer cut their price target on AT&T from $47.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Finally, Cfra dropped their target price on AT&T from $42.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $35.29.
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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