Heritage Investors Management Corp boosted its stake in shares of AT&T Inc. (NYSE:T) by 14.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 575,312 shares of the technology company’s stock after acquiring an additional 74,756 shares during the quarter. Heritage Investors Management Corp’s holdings in AT&T were worth $18,473,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of T. BlackRock Inc. increased its stake in AT&T by 2.8% during the first quarter. BlackRock Inc. now owns 387,352,856 shares of the technology company’s stock worth $13,809,130,000 after acquiring an additional 10,535,763 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in AT&T by 202.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 13,775,075 shares of the technology company’s stock worth $535,574,000 after acquiring an additional 9,225,075 shares during the last quarter. Lazard Asset Management LLC increased its stake in AT&T by 53.3% during the fourth quarter. Lazard Asset Management LLC now owns 21,916,005 shares of the technology company’s stock worth $852,092,000 after acquiring an additional 7,619,113 shares during the last quarter. Boston Partners bought a new stake in AT&T during the first quarter worth approximately $162,658,000. Finally, Prudential Financial Inc. increased its stake in AT&T by 37.6% during the first quarter. Prudential Financial Inc. now owns 15,978,233 shares of the technology company’s stock worth $569,624,000 after acquiring an additional 4,366,723 shares during the last quarter. 64.72% of the stock is currently owned by institutional investors.
Shares of NYSE T opened at $33.60 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $205.17 billion, a P/E ratio of 11.02, a PEG ratio of 2.65 and a beta of 0.40. AT&T Inc. has a 52-week low of $30.13 and a 52-week high of $39.80.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $38.99 billion during the quarter, compared to analyst estimates of $38.45 billion. AT&T had a return on equity of 13.64% and a net margin of 20.12%. AT&T’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 earnings per share. analysts anticipate that AT&T Inc. will post 3.53 EPS for the current year.
T has been the subject of several recent analyst reports. Jefferies Financial Group lowered AT&T from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.80 to $31.17 in a research report on Thursday, June 7th. Credit Suisse Group initiated coverage on AT&T in a research report on Tuesday, July 10th. They set an “underperform” rating and a $29.00 target price for the company. Bank of America restated a “buy” rating on shares of AT&T in a research report on Tuesday, August 21st. Scotiabank set a $33.00 target price on AT&T and gave the company a “hold” rating in a research report on Monday, July 23rd. Finally, UBS Group upgraded AT&T from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 13th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T currently has a consensus rating of “Hold” and a consensus price target of $38.02.
In related news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the stock in a transaction on Wednesday, August 8th. The stock was bought at an average price of $32.48 per share, for a total transaction of $249,771.20. Following the completion of the acquisition, the director now directly owns 31,405 shares in the company, valued at $1,020,034.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew K. Rose bought 65,500 shares of the stock in a transaction on Thursday, July 26th. The shares were bought at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the acquisition, the director now owns 81,319 shares of the company’s stock, valued at $2,481,042.69. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.
AT&T Company Profile
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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