The Meristem LLP Raises Stake in AT&T Inc. (T)

The Meristem LLP Raises Stake in AT&T Inc. (T)

Meristem LLP raised its stake in AT&T Inc. (NYSE:T) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 6,468 shares of the company’s stock after buying an additional 256 shares during the period. Meristem LLP’s holdings in AT&T were worth $279,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cornerstone Investment Partners LLC increased its position in AT&T by 0.6% in the second quarter. Cornerstone Investment Partners LLC now owns 9,554 shares of the company’s stock worth $413,000 after buying an additional 54 shares during the last quarter. Cohen Lawrence B increased its position in AT&T by 0.4% in the second quarter. Cohen Lawrence B now owns 13,585 shares of the company’s stock worth $587,000 after buying an additional 60 shares during the last quarter. Nadler Financial Group Inc. increased its position in AT&T by 0.4% in the second quarter. Nadler Financial Group Inc. now owns 14,085 shares of the company’s stock worth $609,000 after buying an additional 62 shares during the last quarter. Smith & Howard Wealth Management LLC increased its position in AT&T by 0.8% in the first quarter. Smith & Howard Wealth Management LLC now owns 8,220 shares of the company’s stock worth $322,000 after buying an additional 66 shares during the last quarter. Finally, Badgley Phelps & Bell Inc. increased its position in AT&T by 0.4% in the first quarter. Badgley Phelps & Bell Inc. now owns 17,269 shares of the company’s stock worth $676,000 after buying an additional 70 shares during the last quarter. Institutional investors own 53.64% of the company’s stock.

Shares of AT&T Inc. (NYSE:T) traded down 0.38% during midday trading on Friday, reaching $39.22. The company had a trading volume of 13,516,996 shares. The company has a 50 day moving average of $40.33 and a 200 day moving average of $40.51. The company has a market capitalization of $241.28 billion, a PE ratio of 16.91 and a beta of 0.30. AT&T Inc. has a one year low of $32.22 and a one year high of $43.89.

AT&T (NYSE:T) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the 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 analyst estimates of $40.75 billion. Analysts predict that AT&T Inc. will post $2.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio (DPR) is 83.12%.

A number of research analysts recently issued reports on the company. Vetr downgraded AT&T from a “buy” rating to a “hold” rating and set a $40.78 price objective for the company. in a report on Wednesday. Nomura reiterated a “buy” rating and set a $46.00 price objective on shares of AT&T in a report on Wednesday. Deutsche Bank AG reiterated a “buy” rating and set a $45.00 price objective on shares of AT&T in a report on Tuesday. Wells Fargo & Co. restated a “buy” rating on shares of AT&T in a research note on Thursday, October 6th. Finally, Zacks Investment Research downgraded AT&T from a “hold” rating to a “sell” rating in a research note on Monday, October 3rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.86.

In other AT&T news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction 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 sale, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

AT&T Company Profile

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.

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