Kornitzer Capital Management Inc. KS lessened its holdings in AT&T Inc. (NYSE:T – Free Report) by 3.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,011,095 shares of the technology company’s stock after selling 32,703 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in AT&T were worth $19,464,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Axiom Financial Strategies LLC increased its holdings in AT&T by 12.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company’s stock valued at $342,000 after acquiring an additional 1,941 shares during the last quarter. Roundview Capital LLC increased its holdings in shares of AT&T by 62.3% in the first quarter. Roundview Capital LLC now owns 24,628 shares of the technology company’s stock worth $582,000 after purchasing an additional 9,450 shares during the last quarter. Sei Investments Co. lifted its position in shares of AT&T by 23.1% in the first quarter. Sei Investments Co. now owns 1,099,843 shares of the technology company’s stock worth $25,983,000 after buying an additional 206,434 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of AT&T by 5.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 476,601 shares of the technology company’s stock worth $11,262,000 after buying an additional 25,028 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in AT&T by 1,191.3% during the 1st quarter. Loomis Sayles & Co. L P now owns 12,706 shares of the technology company’s stock valued at $300,000 after buying an additional 11,722 shares in the last quarter. 54.09% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have recently issued reports on T shares. HSBC decreased their price objective on AT&T from $21.00 to $19.00 in a report on Monday, June 5th. Argus lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Wells Fargo & Company reduced their target price on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, July 20th. StockNews.com initiated coverage on shares of AT&T in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. cut AT&T from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $17.00 in a research note on Friday, July 14th. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of “Hold” and a consensus price target of $20.00.
AT&T Trading Up 1.4 %
Shares of NYSE:T traded up $0.20 on Friday, hitting $14.37. 31,237,083 shares of the company’s stock were exchanged, compared to its average volume of 65,643,648. The stock has a market capitalization of $102.73 billion, a price-to-earnings ratio of -11.78, a price-to-earnings-growth ratio of 1.76 and a beta of 0.65. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $20.50. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.63. The business’s 50 day simple moving average is $15.17 and its two-hundred day simple moving average is $17.24.
AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The company had revenue of $29.92 billion during the quarter, compared to analyst estimates of $30.07 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 2.43 EPS for the current fiscal year.
AT&T Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date was Friday, July 7th. AT&T’s dividend payout ratio (DPR) is presently -90.98%.
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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.