Nwam LLC Has $1.20 Million Stock Position in AT&T Inc. (NYSE:T)
Nwam LLC trimmed its position in AT&T Inc. (NYSE:T) by 50.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,199 shares of the technology company’s stock after selling 42,337 shares during the quarter. Nwam LLC’s holdings in AT&T were worth $1,203,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jaffetilchin Investment Partners LLC lifted its position in shares of AT&T by 10.4% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock worth $37,000 after buying an additional 1,248 shares during the last quarter. NWK Group Inc. bought a new stake in shares of AT&T during the 2nd quarter worth $65,000. JJJ Advisors Inc. increased its holdings in AT&T by 212.3% in the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,507 shares in the last quarter. Provident Wealth Management LLC acquired a new position in AT&T in the 3rd quarter worth about $70,000. Finally, Litman Gregory Asset Management LLC increased its holdings in AT&T by 844.0% in the 2nd quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after purchasing an additional 2,667 shares in the last quarter. 52.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on T. Morgan Stanley lowered their target price on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft decreased their price target on AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Scotiabank cut AT&T from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the company from $34.00 to $30.00 in a research note on Monday, August 31st. Oppenheimer reissued a “buy” rating and issued a $38.00 price target on shares of AT&T in a research note on Thursday, October 1st. Finally, Royal Bank of Canada lifted their price target on AT&T from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. AT&T presently has an average rating of “Hold” and an average target price of $33.56.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $40.95 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the prior year, the business posted $0.89 EPS. AT&T’s revenue for the quarter was down 8.9% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 3.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be paid a $0.52 dividend. The ex-dividend date is Thursday, October 8th. This represents a $2.08 dividend on an annualized basis and a yield of 7.61%. AT&T’s payout ratio is presently 58.26%.
In other AT&T news, Director Stephen J. Luczo purchased 100,000 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was acquired at an average price of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.
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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