Profund Advisors LLC lifted its holdings in AT&T Inc. (NYSE:T) by 38.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 114,127 shares of the technology company’s stock after purchasing an additional 31,610 shares during the quarter. Profund Advisors LLC’s holdings in AT&T were worth $3,824,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Wetherby Asset Management Inc. raised its position in AT&T by 11.4% during the fourth quarter. Wetherby Asset Management Inc. now owns 170,863 shares of the technology company’s stock worth $4,877,000 after acquiring an additional 17,540 shares during the period. Waller Financial Planning Group Inc. acquired a new position in AT&T during the fourth quarter worth $310,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in AT&T by 10.0% during the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 71,680 shares of the technology company’s stock worth $2,046,000 after acquiring an additional 6,522 shares during the period. Old Port Advisors acquired a new position in AT&T during the fourth quarter worth $1,372,000. Finally, Selway Asset Management raised its position in shares of AT&T by 198.5% in the fourth quarter. Selway Asset Management now owns 99,852 shares of the technology company’s stock valued at $2,850,000 after buying an additional 66,404 shares during the last quarter. 53.14% of the stock is owned by institutional investors.
Shares of T traded down $0.59 during mid-day trading on Friday, reaching $37.79. The stock had a trading volume of 808,483 shares, compared to its average volume of 29,901,382. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $38.75. The business’s fifty day moving average is $34.91 and its 200 day moving average is $32.57. The firm has a market cap of $274.60 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 2.38 and a beta of 0.62.
AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. AT&T’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 3.57 EPS for the current fiscal year.
A number of equities research analysts have recently commented on the stock. Oppenheimer set a $41.00 target price on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday. Desjardins reiterated an “average” rating and issued a $55.50 target price on shares of AT&T in a research report on Tuesday, August 6th. Cowen set a $40.00 target price on shares of AT&T and gave the company a “buy” rating in a research report on Friday, September 6th. ValuEngine cut shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Raymond James increased their target price on shares of AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $38.03.
In related news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.
AT&T Company Profile
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.
Recommended Story: How is inflation measured?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.