Alphinity Investment Management Pty Ltd acquired a new position in AT&T Inc. (NYSE:T) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 420,256 shares of the technology company’s stock, valued at approximately $13,494,000. AT&T accounts for approximately 2.7% of Alphinity Investment Management Pty Ltd’s investment portfolio, making the stock its 23rd biggest position.
Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of AT&T by 21.2% during the second quarter. Bank of New York Mellon Corp now owns 72,724,434 shares of the technology company’s stock worth $2,335,182,000 after acquiring an additional 12,709,982 shares during the period. Dimensional Fund Advisors LP increased its position in shares of AT&T by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock worth $2,650,940,000 after acquiring an additional 11,990,755 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new position in shares of AT&T during the second quarter worth approximately $321,448,000. Schwab Charles Investment Management Inc. increased its position in shares of AT&T by 21.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 30,207,723 shares of the technology company’s stock worth $969,970,000 after acquiring an additional 5,257,713 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of AT&T by 26.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 23,675,124 shares of the technology company’s stock worth $760,208,000 after acquiring an additional 4,930,318 shares during the period. 63.61% of the stock is currently owned by institutional investors.
T has been the topic of a number of research reports. Wells Fargo & Co lowered shares of AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 target price on the stock. in a research report on Wednesday, August 22nd. Bank of America reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. Macquarie reissued a “buy” rating and set a $35.00 price objective on shares of AT&T in a report on Wednesday, September 12th. ValuEngine raised shares of AT&T from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, UBS Group raised shares of AT&T from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. AT&T has a consensus rating of “Hold” and an average price target of $36.42.
In other news, Director Michael B. Mccallister bought 4,000 shares of the stock in a transaction on Friday, October 26th. The stock was bought at an average cost of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the purchase, the director now directly owns 7,361 shares in the company, valued at $214,499.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.
Shares of T opened at $30.73 on Thursday. The company has a market capitalization of $191.78 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.74 and a beta of 0.44. AT&T Inc. has a twelve month low of $28.85 and a twelve month high of $39.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.
AT&T (NYSE:T) last announced its earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The firm had revenue of $45.74 billion during the quarter, compared to analyst estimates of $45.73 billion. AT&T had a net margin of 20.40% and a return on equity of 13.61%. AT&T’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share. On average, equities analysts predict that AT&T Inc. will post 3.51 earnings per share 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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