AT&T Inc. (T) Stake Raised by Peak Asset Management LLC
Peak Asset Management LLC grew its position in AT&T Inc. (NYSE:T) by 11.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,879 shares of the technology company’s stock after purchasing an additional 2,187 shares during the period. Peak Asset Management LLC’s holdings in AT&T were worth $788,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of T. Holderness Investments Co. raised its holdings in shares of AT&T by 62.9% in the first quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock valued at $4,008,000 after buying an additional 37,234 shares during the last quarter. Doyle Wealth Management raised its holdings in shares of AT&T by 4.3% in the second quarter. Doyle Wealth Management now owns 37,561 shares of the technology company’s stock valued at $1,417,000 after buying an additional 1,559 shares during the last quarter. Telos Capital Management Inc. raised its holdings in shares of AT&T by 4.8% in the second quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock valued at $2,641,000 after buying an additional 3,197 shares during the last quarter. Altfest L J & Co. Inc. raised its holdings in shares of AT&T by 42.1% in the second quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock valued at $1,721,000 after buying an additional 13,510 shares during the last quarter. Finally, Shell Asset Management Co. raised its holdings in shares of AT&T by 0.4% in the first quarter. Shell Asset Management Co. now owns 1,245,965 shares of the technology company’s stock valued at $51,770,000 after buying an additional 5,354 shares during the last quarter. Institutional investors own 55.08% of the company’s stock.
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A number of research analysts recently issued reports on the company. Macquarie reaffirmed a “buy” rating and issued a $43.00 price target on shares of AT&T in a report on Friday, September 1st. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $44.24 price objective for the company in a report on Thursday, September 28th. Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. KeyCorp reissued a “hold” rating on shares of AT&T in a report on Wednesday, October 11th. Finally, Robert W. Baird dropped their price objective on AT&T from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. AT&T has an average rating of “Hold” and an average price target of $42.87.
AT&T Inc. (NYSE T) opened at 33.65 on Wednesday. AT&T Inc. has a 12 month low of $33.33 and a 12 month high of $43.03. The firm has a market capitalization of $206.61 billion, a price-to-earnings ratio of 15.81 and a beta of 0.49. The company has a 50 day moving average price of $37.01 and a 200 day moving average price of $37.84.
AT&T (NYSE:T) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Analysts anticipate that AT&T Inc. will post $2.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 5.82%. AT&T’s payout ratio is currently 94.69%.
In other AT&T news, Director Matthew K. Rose bought 29,600 shares of the stock in a transaction on Wednesday, October 25th. The stock was acquired at an average cost of $33.75 per share, for a total transaction of $999,000.00. Following the completion of the acquisition, the director now owns 3,100 shares in the company, valued at approximately $104,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
AT&T Company Profile
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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