Carret Asset Management LLC Has $1.88 Million Stake in AT&T Inc. $T

by · The Cerbat Gem

Carret Asset Management LLC trimmed its stake in AT&T Inc. (NYSE:T – Free Report) by 6.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,922 shares of the technology company’s stock after selling 4,817 shares during the period. Carret Asset Management LLC’s holdings in AT&T were worth $1,879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Spinnaker Trust grew its position in AT&T by 2.0% in the 2nd quarter. Spinnaker Trust now owns 100,540 shares of the technology company’s stock worth $2,910,000 after purchasing an additional 1,992 shares during the last quarter. Savvy Advisors Inc. grew its position in AT&T by 69.5% in the 2nd quarter. Savvy Advisors Inc. now owns 91,488 shares of the technology company’s stock worth $2,648,000 after purchasing an additional 37,514 shares during the last quarter. Assetmark Inc. grew its position in AT&T by 3.8% in the 2nd quarter. Assetmark Inc. now owns 10,633,313 shares of the technology company’s stock worth $307,728,000 after purchasing an additional 387,799 shares during the last quarter. Keybank National Association OH grew its position in AT&T by 2.5% in the 2nd quarter. Keybank National Association OH now owns 1,180,563 shares of the technology company’s stock worth $34,166,000 after purchasing an additional 29,148 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its position in AT&T by 21.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 144,683 shares of the technology company’s stock worth $4,187,000 after purchasing an additional 25,441 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on T shares. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. TD Cowen upped their target price on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Bank of America assumed coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Check Out Our Latest Report on AT&T

AT&T Price Performance

NYSE:T opened at $25.13 on Thursday. The firm has a market cap of $179.66 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 2.21 and a beta of 0.42. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $27.75 and its two-hundred day moving average price is $27.74.

AT&T (NYSE:T – Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

About AT&T

(Free Report)

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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