Sicart Associates LLC grew its stake in AT&T Inc. (NYSE:T) by 4.0% in the 2nd quarter, Holdings Channel reports. The firm owned 294,094 shares of the technology company’s stock after purchasing an additional 11,324 shares during the period. AT&T makes up about 2.8% of Sicart Associates LLC’s portfolio, making the stock its 10th biggest position. Sicart Associates LLC’s holdings in AT&T were worth $8,890,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Lion Street Advisors LLC bought a new position in shares of AT&T in the 1st quarter worth about $27,000. Horan Securities Inc. purchased a new stake in shares of AT&T during the 1st quarter valued at about $28,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of AT&T by 186.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock worth $28,000 after buying an additional 623 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of AT&T in the first quarter worth approximately $34,000. Finally, Efficient Wealth Management LLC purchased a new position in shares of AT&T in the first quarter worth approximately $35,000. Institutional investors and hedge funds own 53.74% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of AT&T from a “hold” rating to a “sell” rating and set a $33.00 price objective on the stock. in a research report on Wednesday, May 27th. SunTrust Banks lowered their target price on shares of AT&T from $36.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 3rd. Scotiabank boosted their target price on shares of AT&T from $33.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Wells Fargo & Co decreased their price objective on AT&T from $36.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, April 3rd. Finally, Bank of America restated a “buy” rating and issued a $36.00 price objective on shares of AT&T in a report on Friday, July 24th. Four 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 a consensus target price of $35.29.
AT&T (NYSE:T) last posted its earnings results on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, beating the 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 for the quarter, compared to analysts’ expectations of $40.87 billion. During the same period last year, the firm earned $0.89 EPS. The firm’s revenue was down 8.9% compared to the same quarter last year. As a group, sell-side analysts forecast that AT&T Inc. will post 3.2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 7.03%. The ex-dividend date of this dividend is Thursday, July 9th. AT&T’s dividend payout ratio is currently 58.26%.
In other news, Director Stephen J. Luczo purchased 100,000 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was purchased at an average cost of $29.69 per share, with a total value of $2,969,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.07% of the stock is owned by company insiders.
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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