Doheny Asset Management CA lifted its stake in shares of AT&T Inc. (NYSE:T) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,396 shares of the technology company’s stock after purchasing an additional 960 shares during the quarter. Doheny Asset Management CA’s holdings in AT&T were worth $549,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Horan Securities Inc. increased its stake in AT&T by 439.2% in the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares in the last quarter. Next Capital Management LLC purchased a new position in AT&T in the 2nd quarter worth about $39,000. Contravisory Investment Management Inc. increased its stake in AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after purchasing an additional 338 shares in the last quarter. Smart Portfolios LLC increased its stake in AT&T by 44.8% in the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after purchasing an additional 500 shares in the last quarter. Finally, Centaurus Financial Inc. increased its stake in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds own 53.14% of the company’s stock.
A number of equities analysts recently weighed in on the company. Citigroup lifted their price target on AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. set a $39.00 price target on AT&T and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Bank of America reaffirmed a “buy” rating on shares of AT&T in a research note on Monday, September 9th. ValuEngine cut AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley set a $37.00 target price on AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $38.03.
NYSE:T opened at $37.91 on Friday. 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 fifty-two week low of $26.80 and a fifty-two week high of $38.75. The stock’s 50-day moving average is $35.00 and its two-hundred day moving average is $32.60. The stock has a market cap of $280.44 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 2.43 and a beta of 0.62.
AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The company had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that AT&T Inc. will post 3.57 earnings per share for the current year.
In other news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares in the company, valued at approximately $80,798.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by insiders.
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.
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