Moneta Group Investment Advisors LLC cut its holdings in AT&T Inc. (NYSE:T) by 97.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,494 shares of the technology company’s stock after selling 53,767 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in AT&T were worth $1,425,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of T. Northern Trust Corp increased its position in shares of AT&T by 2.0% during the 2nd quarter. Northern Trust Corp now owns 86,817,291 shares of the technology company’s stock valued at $2,909,247,000 after purchasing an additional 1,729,145 shares during the last quarter. Bank of New York Mellon Corp grew its position in AT&T by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 68,529,809 shares of the technology company’s stock valued at $2,296,433,000 after buying an additional 2,201,538 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in AT&T by 1.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 35,596,822 shares of the technology company’s stock valued at $1,192,850,000 after buying an additional 423,599 shares during the last quarter. Nordea Investment Management AB increased its holdings in AT&T by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after buying an additional 3,097,958 shares during the last quarter. Finally, LSV Asset Management increased its holdings in AT&T by 5.8% during the second quarter. LSV Asset Management now owns 20,991,388 shares of the technology company’s stock valued at $703,421,000 after buying an additional 1,155,554 shares during the last quarter. Institutional investors and hedge funds own 53.14% of the company’s stock.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at $80,798.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.
Shares of T traded up $0.90 during mid-day trading on Wednesday, reaching $38.48. The stock had a trading volume of 40,132,289 shares, compared to its average volume of 29,080,348. The firm has a market cap of $268.82 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 2.33 and a beta of 0.62. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $38.14. The business has a fifty day moving average of $34.78 and a 200 day moving average of $32.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71.
AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion during the quarter, compared to analysts’ expectations of $44.97 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, research analysts forecast that AT&T Inc. will post 3.57 EPS for the current fiscal year.
Several brokerages have recently weighed in on T. Cowen set a $40.00 price target on shares of AT&T and gave the stock a “buy” rating in a research note on Friday, September 6th. Barclays boosted their price objective on shares of AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday. They noted that the move was a valuation call. Citigroup upped their price objective on AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research note on Thursday, July 25th. Finally, Bank of America reaffirmed a “buy” rating and issued a $37.00 target price on shares of AT&T in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $37.21.
AT&T Company Profile
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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