Garland Capital Management Inc. Purchases 148,816 Shares of AT&T Inc. (NYSE:T)
Garland Capital Management Inc. grew its position in shares of AT&T Inc. (NYSE:T) by 133.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,982 shares of the technology company’s stock after buying an additional 148,816 shares during the quarter. AT&T accounts for approximately 2.8% of Garland Capital Management Inc.’s holdings, making the stock its 18th largest position. Garland Capital Management Inc.’s holdings in AT&T were worth $7,412,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Command Bank raised its holdings in AT&T by 94.7% in the 2nd quarter. First Command Bank now owns 136,968 shares of the technology company’s stock worth $4,141,000 after purchasing an additional 66,629 shares during the period. AXA raised its holdings in AT&T by 27.9% in the 1st quarter. AXA now owns 3,527,087 shares of the technology company’s stock worth $102,814,000 after purchasing an additional 770,426 shares during the period. Kwmg LLC raised its holdings in AT&T by 6.9% in the 2nd quarter. Kwmg LLC now owns 83,935 shares of the technology company’s stock worth $2,537,000 after purchasing an additional 5,439 shares during the period. Ropes Wealth Advisors LLC raised its holdings in AT&T by 16.8% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 78,821 shares of the technology company’s stock worth $2,247,000 after purchasing an additional 11,332 shares during the period. Finally, City Holding Co. raised its holdings in AT&T by 3.3% in the 2nd quarter. City Holding Co. now owns 154,335 shares of the technology company’s stock worth $4,664,000 after purchasing an additional 4,975 shares during the period. 52.29% of the stock is currently owned by hedge funds and other institutional investors.
T has been the topic of a number of recent research reports. Oppenheimer reaffirmed a “buy” rating and issued a $38.00 target price on shares of AT&T in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft cut 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. Wolfe Research initiated coverage on AT&T in a research note on Monday, October 19th. They issued a “peer perform” rating and a $31.00 price target for the company. KeyCorp lowered AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price target for the company. in a research note on Monday, October 5th. Finally, 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 research note on Wednesday, July 1st. Six 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. AT&T presently has a consensus rating of “Hold” and a consensus price target of $33.38.
AT&T (NYSE:T) last released its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01). The firm had revenue of $42.43 billion during the quarter, compared to analysts’ expectations of $41.66 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. AT&T’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 3.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
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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