Consolidated Investment Group LLC Takes $3.45 Million Position in AT&T Inc. (T)

Consolidated Investment Group LLC acquired a new stake in AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 107,381 shares of the technology company’s stock, valued at approximately $3,448,000. AT&T makes up approximately 1.7% of Consolidated Investment Group LLC’s holdings, making the stock its 25th biggest position.

Several other hedge funds have also made changes to their positions in T. BlackRock Inc. raised its stake in shares of AT&T by 2.8% in the 1st quarter. BlackRock Inc. now owns 387,352,856 shares of the technology company’s stock valued at $13,809,130,000 after buying an additional 10,535,763 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of AT&T by 202.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 13,775,075 shares of the technology company’s stock valued at $535,574,000 after buying an additional 9,225,075 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of AT&T by 53.3% in the 4th quarter. Lazard Asset Management LLC now owns 21,916,005 shares of the technology company’s stock valued at $852,092,000 after buying an additional 7,619,113 shares in the last quarter. Boston Partners acquired a new position in shares of AT&T in the 1st quarter valued at $162,658,000. Finally, Prudential Financial Inc. raised its stake in shares of AT&T by 37.6% in the 1st quarter. Prudential Financial Inc. now owns 15,978,233 shares of the technology company’s stock valued at $569,624,000 after buying an additional 4,366,723 shares in the last quarter. Institutional investors own 64.72% of the company’s stock.

A number of brokerages recently issued reports on T. Zacks Investment Research cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Bank of America upgraded shares of AT&T from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, July 30th. They noted that the move was a valuation call. Credit Suisse Group began coverage on shares of AT&T in a research report on Tuesday, July 10th. They set an “underperform” rating and a $29.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $37.00 target price on shares of AT&T in a research report on Wednesday, June 27th. Finally, ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. AT&T has an average rating of “Hold” and a consensus target price of $38.02.

T opened at $33.68 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 stock has a market capitalization of $200.56 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 2.59 and a beta of 0.40. AT&T Inc. has a 1-year low of $30.13 and a 1-year high of $39.80.

AT&T (NYSE:T) last posted its quarterly earnings data on Tuesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $38.99 billion during the quarter, compared to analysts’ expectations of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. equities research analysts forecast that AT&T Inc. will post 3.54 EPS for the current year.

In other AT&T news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of AT&T stock in a transaction dated Wednesday, August 8th. The shares were bought at an average price of $32.48 per share, with a total value of $249,771.20. Following the purchase, the director now owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Matthew K. Rose bought 65,500 shares of AT&T stock in a transaction dated Thursday, July 26th. The stock was acquired at an average cost of $30.51 per share, for a total transaction of $1,998,405.00. Following the purchase, the director now directly owns 81,319 shares in the company, valued at approximately $2,481,042.69. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

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

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