Searle & CO. Has $895,000 Position in AT&T Inc. (NYSE:T)

by · The Markets Daily

Searle & CO. lowered its holdings in AT&T Inc. (NYSE:T – Free Report) by 22.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,700 shares of the technology company’s stock after selling 11,800 shares during the quarter. Searle & CO.’s holdings in AT&T were worth $895,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Strategic Financial Concepts LLC lifted its stake in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of AT&T during the 2nd quarter worth $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Citigroup lifted their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays lifted their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

Read Our Latest Research Report on AT&T

AT&T Price Performance

T traded up $0.69 during midday trading on Wednesday, hitting $22.19. The stock had a trading volume of 17,687,264 shares, compared to its average volume of 35,481,656. The company has a market cap of $159.11 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. The business has a fifty day moving average of $21.03 and a 200 day moving average of $19.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $14.74 and a 1 year high of $22.34.

AT&T (NYSE:T – Get Free Report) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

AT&T Profile

(Free Report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

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