Van ECK Associates Corp acquired a new position in shares of AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 172,750 shares of the technology company’s stock, valued at approximately $5,547,000.
A number of other hedge funds also recently made changes to their positions in T. Price Wealth Management Inc. boosted its holdings in shares of AT&T by 165.1% in the 2nd quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock valued at $106,000 after buying an additional 2,064 shares during the period. CKW Financial Group boosted its holdings in shares of AT&T by 105.0% in the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after buying an additional 2,159 shares during the period. Braun Bostich & Associates Inc. acquired a new position in shares of AT&T in the 1st quarter valued at about $137,000. Cerebellum GP LLC acquired a new position in shares of AT&T in the 2nd quarter valued at about $178,000. Finally, Stevens First Principles Investment Advisors boosted its holdings in shares of AT&T by 38.6% in the 2nd quarter. Stevens First Principles Investment Advisors now owns 6,286 shares of the technology company’s stock valued at $202,000 after buying an additional 1,751 shares during the period. 63.61% of the stock is owned by institutional investors.
In related news, Director Michael B. Mccallister purchased 4,000 shares of the company’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $29.14 per share, for a total transaction of $116,560.00. Following the transaction, the director now owns 7,361 shares of the company’s stock, valued at $214,499.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by insiders.
A number of research analysts have issued reports on the stock. Argus reissued a “buy” rating and set a $48.00 target price on shares of AT&T in a research note on Friday, October 26th. Macquarie reissued a “buy” rating and set a $35.00 target price on shares of AT&T in a research note on Wednesday, September 12th. Zacks Investment Research lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Bank of America set a $37.00 target price on shares of AT&T and gave the company a “buy” rating in a research note on Monday, November 19th. Finally, Cowen raised shares of AT&T from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $36.00 in a research note on Monday, December 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $36.42.
AT&T stock opened at $30.14 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market cap of $187.42 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.68 and a beta of 0.44. AT&T Inc. has a 52-week low of $28.85 and a 52-week high of $39.33.
AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). AT&T had a return on equity of 13.61% and a net margin of 20.40%. The company had revenue of $45.74 billion for the quarter, compared to the consensus estimate of $45.73 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 3.51 EPS for the current fiscal year.
AT&T Company 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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