Oregon Public Employees Retirement Fund raised its stake in AT&T Inc. (NYSE:T) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,402,992 shares of the technology company’s stock after acquiring an additional 189,958 shares during the period. AT&T accounts for approximately 0.7% of Oregon Public Employees Retirement Fund’s portfolio, making the stock its 24th largest position. Oregon Public Employees Retirement Fund’s holdings in AT&T were worth $45,050,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in T. Strategic Global Advisors LLC raised its stake in AT&T by 80.1% during the first quarter. Strategic Global Advisors LLC now owns 43,024 shares of the technology company’s stock worth $1,534,000 after acquiring an additional 19,136 shares in the last quarter. Quadrant Private Wealth Management LLC raised its stake in AT&T by 10.8% during the first quarter. Quadrant Private Wealth Management LLC now owns 17,170 shares of the technology company’s stock worth $612,000 after acquiring an additional 1,670 shares in the last quarter. BB&T Securities LLC raised its stake in AT&T by 12.1% during the first quarter. BB&T Securities LLC now owns 2,027,753 shares of the technology company’s stock worth $72,289,000 after acquiring an additional 219,287 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in AT&T by 7.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 1,353,286 shares of the technology company’s stock worth $48,245,000 after acquiring an additional 98,708 shares in the last quarter. Finally, Credit Agricole S A raised its stake in AT&T by 2.7% during the first quarter. Credit Agricole S A now owns 168,435 shares of the technology company’s stock worth $6,005,000 after acquiring an additional 4,445 shares in the last quarter. Institutional investors and hedge funds own 63.61% of the company’s stock.
Several research firms have recently issued reports on T. Argus reaffirmed a “buy” rating and issued a $48.00 price objective on shares of AT&T in a research note on Friday, October 26th. Cowen raised AT&T from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $34.00 to $36.00 in a research note on Monday, December 3rd. Deutsche Bank upped their price objective on AT&T from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 24th. UBS Group raised AT&T from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $38.00 in a research note on Friday, September 21st. They noted that the move was a valuation call. Finally, Bank of America reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 21st. 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 assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $36.42.
In related news, Director Michael B. Mccallister bought 4,000 shares of AT&T stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average cost of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the acquisition, the director now directly owns 7,361 shares of the company’s stock, valued at approximately $214,499.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.
Shares of T stock opened at $30.14 on Friday. AT&T Inc. has a one year low of $28.85 and a one year high of $39.33. The company has a market capitalization of $188.65 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.69 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.
AT&T (NYSE:T) last announced its earnings results on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The company had revenue of $45.74 billion during the quarter, compared to the consensus estimate of $45.73 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 3.51 EPS for the current fiscal year.
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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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