Neo Ivy Capital Management Sells 2,678 Shares of AT&T Inc. (NYSE:T)

Neo Ivy Capital Management decreased its position in shares of AT&T Inc. (NYSE:T) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,314 shares of the technology company’s stock after selling 2,678 shares during the quarter. AT&T makes up approximately 0.8% of Neo Ivy Capital Management’s portfolio, making the stock its 2nd biggest position. Neo Ivy Capital Management’s holdings in AT&T were worth $1,451,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in T. Horan Securities Inc. raised its position in shares of AT&T by 439.2% in the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after acquiring an additional 830 shares in the last quarter. Next Capital Management LLC bought a new position in shares of AT&T in the 2nd quarter worth about $39,000. Contravisory Investment Management Inc. raised its position in shares of AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after acquiring an additional 338 shares in the last quarter. Smart Portfolios LLC raised its position in shares of AT&T by 44.8% in the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after acquiring an additional 500 shares in the last quarter. Finally, Centaurus Financial Inc. raised its position in shares of AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after acquiring an additional 333 shares in the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

T has been the subject of several research analyst reports. Citigroup lifted their price objective on AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Oppenheimer set a $41.00 price objective on AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Morgan Stanley set a $37.00 price objective on AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. set a $39.00 price objective on AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Bank of America reissued a “buy” rating on shares of AT&T in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $38.03.

AT&T stock traded up $0.76 during midday trading on Friday, reaching $37.91. The stock had a trading volume of 73,283,888 shares, compared to its average volume of 35,196,520. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $38.75. The company has a market capitalization of $271.46 billion, a P/E ratio of 10.77, a PEG ratio of 2.34 and a beta of 0.62. The company has a fifty day moving average price of $35.45 and a two-hundred day moving average price of $32.82. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The business had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of AT&T 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 completion of the transaction, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

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

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