Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 13.9% during the second quarter, Holdings Channel reports. The institutional investor owned 24,001 shares of the company’s stock after buying an additional 2,931 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in AT&T were worth $1,037,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of T. Proficio Capital Partners LLC raised its stake in shares of AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock valued at $101,000 after buying an additional 1,489 shares during the last quarter. Taylor Wealth Management Partners raised its stake in AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock worth $110,000 after buying an additional 700 shares during the last quarter. WealthTrust Arizona LLC raised its stake in AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock worth $113,000 after buying an additional 300 shares during the last quarter. Invictus RG raised its stake in AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock worth $138,000 after buying an additional 2,560 shares during the last quarter. Finally, JNBA Financial Advisors raised its stake in AT&T by 6.6% in the second quarter. JNBA Financial Advisors now owns 3,852 shares of the company’s stock worth $166,000 after buying an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 53.64% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) traded down 0.46% during trading on Thursday, reaching $39.15. 7,441,824 shares of the company’s stock traded hands. AT&T Inc. has a 1-year low of $32.22 and a 1-year high of $43.89. The company has a 50 day moving average price of $40.43 and a 200 day moving average price of $40.52. The stock has a market capitalization of $240.85 billion, a PE ratio of 16.88 and a beta of 0.30.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The business earned $40.50 billion during the quarter, compared to analysts’ expectations of $40.75 billion. On average, equities analysts forecast that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.88%. The ex-dividend date is Wednesday, October 5th. AT&T’s dividend payout ratio (DPR) is presently 83.12%.
A number of research firms have recently issued reports on T. Barclays PLC reaffirmed a “buy” rating on shares of AT&T in a report on Sunday, July 17th. Vetr lowered shares of AT&T from a “hold” rating to a “sell” rating and set a $38.71 target price for the company. in a report on Tuesday, June 21st. S&P Equity Research set a $46.00 target price on shares of AT&T and gave the stock a “buy” rating in a report on Sunday, July 24th. FBR & Co upped their target price on shares of AT&T from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, July 22nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $41.00 target price on shares of AT&T in a report on Tuesday, June 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. AT&T currently has a consensus rating of “Hold” and a consensus target price of $41.86.
In related news, CEO John T. Stankey sold 2,131 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the transaction, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.