Van ECK Associates Corp bought a new position in AT&T Inc. (NYSE:T) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 172,750 shares of the technology company’s stock, valued at approximately $5,547,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Price Wealth Management Inc. increased its position in shares of AT&T by 165.1% in the second quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock worth $106,000 after acquiring an additional 2,064 shares in the last quarter. Braun Bostich & Associates Inc. purchased a new position in shares of AT&T in the first quarter worth approximately $137,000. CKW Financial Group increased its position in shares of AT&T by 105.0% in the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after acquiring an additional 2,159 shares in the last quarter. Cerebellum GP LLC purchased a new position in shares of AT&T in the second quarter worth approximately $178,000. Finally, Stevens First Principles Investment Advisors increased its position in shares of AT&T by 38.6% in the second quarter. Stevens First Principles Investment Advisors now owns 6,286 shares of the technology company’s stock worth $202,000 after acquiring an additional 1,751 shares in the last quarter. Institutional investors and hedge funds own 63.61% of the company’s stock.
T stock opened at $30.14 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $187.42 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.68 and a beta of 0.44. AT&T Inc. has a 12 month low of $28.85 and a 12 month high of $39.33.
AT&T (NYSE:T) last posted its earnings results on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The business had revenue of $45.74 billion during the quarter, compared to the consensus estimate of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 3.51 EPS for the current fiscal year.
A number of research analysts recently commented on the stock. Bank of America set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Moffett Nathanson raised shares of AT&T from a “sell” rating to a “neutral” rating and set a $28.00 price objective on the stock in a research report on Monday, November 26th. Tigress Financial raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. Barclays set a $33.00 price objective on shares of AT&T and gave the company a “hold” rating in a research report on Wednesday, October 10th. Finally, Robert W. Baird lowered their price objective on shares of AT&T from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $36.42.
In other AT&T news, Director Michael B. Mccallister bought 4,000 shares of the firm’s stock in a transaction on Friday, October 26th. The stock was bought at an average cost of $29.14 per share, with a total value of $116,560.00. Following the completion of the transaction, the director now directly owns 7,361 shares of the company’s stock, valued at approximately $214,499.54. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.
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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