First Citizens Financial Corp lifted its position in shares of AT&T Inc. (NYSE:T) by 29.1% during the second quarter, HoldingsChannel reports. The firm owned 13,513 shares of the technology company’s stock after buying an additional 3,047 shares during the quarter. First Citizens Financial Corp’s holdings in AT&T were worth $408,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Command Bank lifted its position in AT&T by 94.7% in the 2nd quarter. First Command Bank now owns 136,968 shares of the technology company’s stock valued at $4,141,000 after acquiring an additional 66,629 shares in the last quarter. AXA lifted its position in AT&T by 27.9% in the 1st quarter. AXA now owns 3,527,087 shares of the technology company’s stock valued at $102,814,000 after acquiring an additional 770,426 shares in the last quarter. Empirical Finance LLC lifted its position in AT&T by 57.4% in the 1st quarter. Empirical Finance LLC now owns 41,362 shares of the technology company’s stock valued at $1,206,000 after acquiring an additional 15,082 shares in the last quarter. Adams Wealth Management lifted its position in AT&T by 23.9% in the 1st quarter. Adams Wealth Management now owns 21,853 shares of the technology company’s stock valued at $637,000 after acquiring an additional 4,210 shares in the last quarter. Finally, City Holding Co. lifted its position in AT&T by 3.3% in the 2nd quarter. City Holding Co. now owns 154,335 shares of the technology company’s stock valued at $4,664,000 after acquiring an additional 4,975 shares in the last quarter. 53.74% of the stock is currently owned by institutional investors.
In other AT&T news, Director Stephen J. Luczo acquired 100,000 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was purchased at an average price of $29.69 per share, with a total value of $2,969,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.
AT&T (NYSE:T) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. AT&T’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. Analysts expect that AT&T Inc. will post 3.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date of this dividend is Thursday, July 9th. AT&T’s dividend payout ratio is currently 58.26%.
T has been the topic of several research reports. Royal Bank of Canada cut their price objective on shares of AT&T from $38.00 to $32.00 in a research report on Friday, July 24th. Barclays reiterated a “hold” rating and issued a $33.00 price target on shares of AT&T in a research note on Friday, April 17th. UBS Group lowered their price target on shares of AT&T from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Guggenheim lowered their price target on shares of AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, Cfra lowered their price target on shares of AT&T from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.29.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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