Altfest L J & Co. Inc. grew its holdings in shares of AT&T Inc. (NYSE:T) by 26.6% in the first quarter, Holdings Channel reports. The institutional investor owned 57,013 shares of the technology company’s stock after acquiring an additional 11,982 shares during the period. Altfest L J & Co. Inc.’s holdings in AT&T were worth $1,788,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in AT&T by 0.6% in the third quarter. Vanguard Group Inc. now owns 531,005,481 shares of the technology company’s stock worth $17,831,164,000 after acquiring an additional 3,379,045 shares during the period. Vanguard Group Inc raised its position in AT&T by 0.6% in the third quarter. Vanguard Group Inc now owns 531,005,481 shares of the technology company’s stock worth $17,831,164,000 after acquiring an additional 3,379,045 shares during the period. Bank of New York Mellon Corp raised its position in AT&T by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 73,430,336 shares of the technology company’s stock worth $2,465,790,000 after acquiring an additional 705,902 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in AT&T by 2.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,223,649 shares of the technology company’s stock worth $813,430,000 after acquiring an additional 548,525 shares during the period. Finally, Nordea Investment Management AB raised its position in AT&T by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock worth $610,299,000 after acquiring an additional 3,097,958 shares during the period. Hedge funds and other institutional investors own 53.02% of the company’s stock.
Shares of NYSE T traded up $0.06 during midday trading on Friday, hitting $32.35. The company’s stock had a trading volume of 19,821,321 shares, compared to its average volume of 26,224,468. AT&T Inc. has a one year low of $26.80 and a one year high of $34.30. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.84. The firm has a market cap of $236.09 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 2.02 and a beta of 0.55.
AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.86 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.86. The business had revenue of $44.83 billion for the quarter, compared to analyst estimates of $45.20 billion. AT&T had a net margin of 10.59% and a return on equity of 13.16%. AT&T’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. Equities analysts expect that AT&T Inc. will post 3.58 EPS for the current year.
Several analysts have commented on T shares. Desjardins reaffirmed an “average” rating and issued a $56.50 price objective on shares of AT&T in a research report on Friday, April 5th. ValuEngine raised shares of AT&T from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. AT&T presently has an average rating of “Buy” and an average price target of $36.35.
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AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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