IMS Capital Management Buys Shares of 8,962 AT&T Inc. $T

IMS Capital Management bought a new stake in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, Holdings Channel reports. The firm bought 8,962 shares of the technology company’s stock, valued at approximately $259,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the 2nd quarter valued at $26,000. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in AT&T during the 1st quarter valued at $29,000. Finally, Core Alternative Capital increased its position in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $28.34 on Thursday. The stock has a market cap of $202.63 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 3.69 and a beta of 0.44. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a fifty day moving average price of $28.55 and a 200 day moving average price of $27.85.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on T. JPMorgan Chase & Co. lifted their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. UBS Group set a $33.00 price target on AT&T in a research report on Thursday, September 18th. Finally, Bank of America began coverage on AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.