Northstar Investment Advisors LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 17.2% in the second quarter, HoldingsChannel reports. The firm owned 20,660 shares of the technology company’s stock after selling 4,280 shares during the period. Northstar Investment Advisors LLC’s holdings in AT&T were worth $663,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Earnest Partners LLC bought a new position in shares of AT&T in the 4th quarter worth $113,000. Braun Bostich & Associates Inc. bought a new position in shares of AT&T in the 1st quarter worth $137,000. Elmwood Wealth Management Inc. bought a new position in shares of AT&T in the 1st quarter worth $178,000. Cerebellum GP LLC bought a new position in shares of AT&T in the 2nd quarter worth $178,000. Finally, Taylor Hoffman Wealth Management bought a new position in shares of AT&T in the 4th quarter worth $189,000. 64.72% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on T shares. Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Bank of America upgraded AT&T from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, July 30th. They noted that the move was a valuation call. Credit Suisse Group started coverage on AT&T in a research report on Tuesday, July 10th. They issued an “underperform” rating and a $29.00 price target on the stock. Morgan Stanley restated an “overweight” rating and issued a $37.00 price target on shares of AT&T in a research report on Wednesday, June 27th. Finally, ValuEngine lowered AT&T from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $38.02.
In other news, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were bought at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the completion of the acquisition, the director now directly owns 31,405 shares in the company, valued at approximately $1,020,034.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew K. Rose purchased 65,500 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was purchased at an average price of $30.51 per share, for a total transaction of $1,998,405.00. Following the completion of the acquisition, the director now owns 81,319 shares of the company’s stock, valued at $2,481,042.69. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.
T stock opened at $33.68 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $200.56 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 2.59 and a beta of 0.40. AT&T Inc. has a 1-year low of $30.13 and a 1-year high of $39.80.
AT&T (NYSE:T) last posted its earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The firm had revenue of $38.99 billion for the quarter, compared to analyst estimates of $38.45 billion. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. analysts predict that AT&T Inc. will post 3.54 earnings per share for the current year.
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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