Triton Wealth Management PLLC Has $588,000 Stock Position in AT&T Inc. (NYSE:T)
Triton Wealth Management PLLC grew its stake in AT&T Inc. (NYSE:T) by 95.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,541 shares of the technology company’s stock after purchasing an additional 10,014 shares during the quarter. Triton Wealth Management PLLC’s holdings in AT&T were worth $588,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Jaffetilchin Investment Partners LLC increased its holdings in 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 purchasing an additional 1,248 shares in the last quarter. NWK Group Inc. acquired a new position in shares of AT&T during the 2nd quarter worth about $65,000. JJJ Advisors Inc. boosted its stake in shares of AT&T by 212.3% during the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after buying an additional 1,507 shares during the last quarter. Provident Wealth Management LLC acquired a new position in shares of AT&T during the 3rd quarter worth about $70,000. Finally, Litman Gregory Asset Management LLC boosted its stake in shares of AT&T by 844.0% during the 2nd quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after buying an additional 2,667 shares during the last quarter. 52.29% of the stock is currently owned by institutional investors.
In other AT&T news, Director Stephen J. Luczo bought 100,000 shares of AT&T stock in a transaction that occurred on Thursday, July 23rd. The shares were 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 document filed with the SEC, which is accessible through this hyperlink. 0.07% of the stock is currently owned by company insiders.
AT&T (NYSE:T) last issued its quarterly earnings data 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. The business had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. As a group, research analysts predict that AT&T Inc. will post 3.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio is currently 58.26%.
A number of research firms have recently commented on T. KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research note on Monday, October 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Royal Bank of Canada raised their target price on shares of AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Morgan Stanley cut their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Finally, Scotiabank downgraded shares of AT&T from a “sector perform” rating to a “sector underperform” rating and cut their target price for the company from $34.00 to $30.00 in a research note on Monday, August 31st. Six equities 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. The company presently has an average rating of “Hold” and an average target price of $33.56.
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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