SPC Financial Inc. lowered its stake in AT&T Inc. (NYSE:T) by 9.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 78,955 shares of the technology company’s stock after selling 7,833 shares during the quarter. AT&T accounts for 0.7% of SPC Financial Inc.’s portfolio, making the stock its 29th biggest position. SPC Financial Inc.’s holdings in AT&T were worth $3,070,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Israel Discount Bank of New York grew its stake in AT&T by 0.6% in the second quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock worth $154,000 after purchasing an additional 25 shares during the period. Cim LLC grew its stake in AT&T by 1.0% in the second quarter. Cim LLC now owns 6,399 shares of the technology company’s stock worth $241,000 after purchasing an additional 62 shares during the period. Keel Point LLC grew its stake in AT&T by 0.4% in the second quarter. Keel Point LLC now owns 20,182 shares of the technology company’s stock worth $761,000 after purchasing an additional 87 shares during the period. Asset Planning Services Ltd. grew its stake in AT&T by 2.5% in the second quarter. Asset Planning Services Ltd. now owns 4,273 shares of the technology company’s stock worth $161,000 after purchasing an additional 104 shares during the period. Finally, AMG National Trust Bank grew its stake in AT&T by 0.3% in the second quarter. AMG National Trust Bank now owns 43,712 shares of the technology company’s stock worth $1,649,000 after purchasing an additional 118 shares during the period. 59.42% of the stock is currently owned by hedge funds and other institutional investors.
In other AT&T news, Director Richard W. Fisher purchased 2,600 shares of the stock in a transaction dated Monday, February 5th. The shares were purchased at an average cost of $38.10 per share, with a total value of $99,060.00. Following the completion of the acquisition, the director now directly owns 2,600 shares in the company, valued at approximately $99,060. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John T. Stankey sold 2,307 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $39.21, for a total value of $90,457.47. Following the transaction, the executive vice president now directly owns 51,672 shares in the company, valued at $2,026,059.12. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.13. The firm had revenue of $41.68 billion for the quarter, compared to the consensus estimate of $41.21 billion. AT&T had a return on equity of 14.55% and a net margin of 18.34%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. analysts predict that AT&T Inc. will post 3.47 EPS for the current year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, March 5th. Vetr cut AT&T from a “strong-buy” rating to a “buy” rating and set a $40.01 price target on the stock. in a research note on Tuesday, February 13th. Argus reissued a “buy” rating and issued a $36.83 target price (down from $48.00) on shares of AT&T in a research note on Wednesday, February 7th. Bank of America increased their target price on AT&T from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, ValuEngine cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company. AT&T has an average rating of “Hold” and an average target price of $41.82.
ILLEGAL ACTIVITY NOTICE: This news story was posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/03/13/spc-financial-inc-sells-7833-shares-of-att-inc-t.html.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.