Princeton Global Asset Management LLC Has $1.52 Million Position in AT&T Inc. (NYSE:T)

Princeton Global Asset Management LLC grew its stake in AT&T Inc. (NYSE:T) by 13.3% during the third quarter, HoldingsChannel reports. The firm owned 40,550 shares of the technology company’s stock after buying an additional 4,756 shares during the quarter. Princeton Global Asset Management LLC’s holdings in AT&T were worth $1,517,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Nuveen Asset Management LLC lifted its stake in AT&T by 1,723.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock valued at $1,543,169,000 after purchasing an additional 43,525,113 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of AT&T by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock valued at $18,879,489,000 after acquiring an additional 6,744,699 shares during the last quarter. Morgan Stanley boosted its holdings in shares of AT&T by 11.2% during the 2nd quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock valued at $1,979,052,000 after acquiring an additional 5,931,167 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of AT&T by 18.1% during the 3rd quarter. California Public Employees Retirement System now owns 28,020,401 shares of the technology company’s stock valued at $1,060,292,000 after acquiring an additional 4,292,231 shares in the last quarter. Finally, Covenant Multifamily Offices LLC bought a new stake in AT&T during the 2nd quarter worth $81,364,000. 53.65% of the stock is currently owned by institutional investors.

Shares of NYSE T traded up $0.23 during trading on Tuesday, reaching $37.55. The company had a trading volume of 24,508,534 shares, compared to its average volume of 30,598,943. The stock has a market cap of $274.30 billion, a P/E ratio of 10.67, a PEG ratio of 2.36 and a beta of 0.62. The company’s fifty day moving average price is $38.21 and its 200-day moving average price is $35.30. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.79. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $39.70.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. The company had revenue of $44.59 billion during the quarter, compared to the consensus estimate of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 3.57 earnings per share for the current year.

A number of equities analysts have issued reports on T shares. ValuEngine cut AT&T from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price target on AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Raymond James restated a “buy” rating and set a $45.00 price target (up from $40.00) on shares of AT&T in a report on Tuesday, October 29th. SunTrust Banks upped their price objective on AT&T to $36.00 and gave the company a “hold” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $39.22.

About AT&T

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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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