Mairs & Power Inc. Increases Stake in AT&T Inc. (NYSE:T)

Mairs & Power Inc. grew its holdings in AT&T Inc. (NYSE:TGet Rating) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,518 shares of the technology company’s stock after buying an additional 1,031 shares during the quarter. Mairs & Power Inc.’s holdings in AT&T were worth $627,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Horizon Investments LLC increased its position in shares of AT&T by 8.1% in the first quarter. Horizon Investments LLC now owns 81,471 shares of the technology company’s stock valued at $1,432,000 after buying an additional 6,075 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of AT&T during the first quarter worth approximately $15,681,000. Logan Capital Management Inc. increased its position in shares of AT&T by 28.0% during the first quarter. Logan Capital Management Inc. now owns 726,485 shares of the technology company’s stock worth $17,167,000 after purchasing an additional 159,103 shares in the last quarter. Graham Capital Management L.P. increased its position in shares of AT&T by 129.0% during the first quarter. Graham Capital Management L.P. now owns 29,783 shares of the technology company’s stock worth $703,000 after purchasing an additional 16,776 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel increased its position in shares of AT&T by 16.0% during the first quarter. Psagot Value Holdings Ltd. Israel now owns 462,359 shares of the technology company’s stock worth $10,926,000 after purchasing an additional 63,639 shares in the last quarter. 52.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on T shares. Tigress Financial dropped their price target on AT&T from $31.00 to $28.00 in a research report on Thursday, June 16th. Truist Financial dropped their target price on AT&T to $21.00 in a report on Friday, July 22nd. Barclays cut AT&T from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $20.00 in a report on Friday, July 22nd. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a report on Friday, September 2nd. Finally, Wells Fargo & Company dropped their target price on AT&T to $22.00 in a report on Friday, July 22nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.78.

AT&T Trading Up 1.6 %

T opened at $17.03 on Friday. AT&T Inc. has a one year low of $16.62 and a one year high of $21.53. The company has a market cap of $121.36 billion, a P/E ratio of 6.26, a PEG ratio of 1.83 and a beta of 0.48. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.64 and a current ratio of 0.70. The business’s 50-day simple moving average is $18.74 and its 200-day simple moving average is $20.45.

AT&T (NYSE:TGet Rating) last released its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $29.64 billion for the quarter, compared to the consensus estimate of $29.48 billion. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.53 EPS for the current fiscal year.

AT&T Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a yield of 6.52%. AT&T’s dividend payout ratio is presently 40.81%.

AT&T Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

Further Reading

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

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