Itau Unibanco Holding S.A. bought a new stake in AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,504 shares of the technology company’s stock, valued at approximately $273,000.
Several other hedge funds and other institutional investors have also modified their holdings of T. Price Wealth Management Inc. raised its position 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 acquiring an additional 2,064 shares during the period. CKW Financial Group raised its position 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 acquiring an additional 2,159 shares during the period. Braun Bostich & Associates Inc. acquired a new stake in shares of AT&T in the 1st quarter valued at approximately $137,000. Cerebellum GP LLC acquired a new stake in shares of AT&T in the 2nd quarter valued at approximately $178,000. Finally, Stevens First Principles Investment Advisors raised its position 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 acquiring an additional 1,751 shares during the period. 63.61% of the stock is currently owned by institutional investors.
In other news, Director Michael B. Mccallister bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average cost of $29.14 per share, with a total value of $116,560.00. Following the completion of the purchase, the director now owns 7,361 shares of the company’s stock, valued at $214,499.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.
NYSE T opened at $30.73 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. AT&T Inc. has a 12-month low of $28.85 and a 12-month high of $39.33. The company has a market capitalization of $191.78 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.74 and a beta of 0.44.
AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $45.74 billion during the quarter, compared to analyst estimates of $45.73 billion. During the same quarter last year, the business earned $0.74 earnings per share. AT&T’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 3.51 EPS for the current fiscal year.
Several analysts have commented on the stock. Argus restated a “buy” rating and set a $48.00 target price on shares of AT&T in a report on Friday, October 26th. Cowen upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $36.00 in a report on Monday. Deutsche Bank raised their target price on shares of AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, September 24th. UBS Group upgraded shares of AT&T from a “neutral” rating to a “buy” rating and raised their target price for the stock from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Finally, Bank of America restated a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $36.42.
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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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