Portfolio Solutions LLC Boosts Position in AT&T Inc. (T)

Portfolio Solutions LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 329.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,487 shares of the technology company’s stock after acquiring an additional 16,479 shares during the period. AT&T comprises approximately 0.1% of Portfolio Solutions LLC’s holdings, making the stock its 15th largest holding. Portfolio Solutions LLC’s holdings in AT&T were worth $811,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Taylor Wealth Management Partners raised its position in shares of AT&T by 0.4% during the 1st quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after acquiring an additional 11 shares in the last quarter. Cedar Wealth Management LLC raised its position in shares of AT&T by 0.9% during the 1st quarter. Cedar Wealth Management LLC now owns 5,485 shares of the technology company’s stock valued at $228,000 after acquiring an additional 50 shares in the last quarter. Moon Capital Management LLC raised its position in shares of AT&T by 0.3% during the 2nd quarter. Moon Capital Management LLC now owns 21,834 shares of the technology company’s stock valued at $824,000 after acquiring an additional 75 shares in the last quarter. Orca Investment Management LLC raised its position in shares of AT&T by 0.7% during the 2nd quarter. Orca Investment Management LLC now owns 14,205 shares of the technology company’s stock valued at $536,000 after acquiring an additional 100 shares in the last quarter. Finally, Arbor Investment Advisors LLC raised its position in shares of AT&T by 1.0% during the 2nd quarter. Arbor Investment Advisors LLC now owns 13,198 shares of the technology company’s stock valued at $498,000 after acquiring an additional 127 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of AT&T Inc. (NYSE:T) traded down 4.82% on Thursday, reaching $36.35. The company had a trading volume of 47,488,975 shares. AT&T Inc. has a one year low of $35.10 and a one year high of $43.03. The company has a 50-day moving average price of $37.88 and a 200-day moving average price of $38.46. The firm has a market cap of $223.19 billion, a P/E ratio of 17.08 and a beta of 0.49.

AT&T (NYSE:T) last released its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, analysts expect that AT&T Inc. will post $2.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.49 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 5.13%. AT&T’s dividend payout ratio is presently 92.45%.

TRADEMARK VIOLATION NOTICE: “Portfolio Solutions LLC Boosts Position in AT&T Inc. (T)” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://sportsperspectives.com/2017/10/12/portfolio-solutions-llc-boosts-position-in-att-inc-t.html.

Several equities research analysts recently issued reports on the company. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price target on the stock in a research report on Wednesday, August 16th. Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a research report on Thursday. Cowen and Company reissued a “market perform” rating and set a $41.00 price target (down from $43.00) on shares of AT&T in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating and set a $48.00 price target on shares of AT&T in a research report on Thursday, August 24th. Finally, Robert W. Baird reissued an “outperform” rating and set a $43.00 price target on shares of AT&T in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.84.

About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply