Cigna Investments Inc. New Lowers Stock Holdings in AT&T Inc. $T

Cigna Investments Inc. New reduced its position in AT&T Inc. (NYSE:T) by 3.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 69,429 shares of the technology company’s stock after selling 2,600 shares during the period. Cigna Investments Inc. New’s holdings in AT&T were worth $2,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Capital A Wealth Management LLC purchased a new stake in AT&T in the 4th quarter worth approximately $25,000. Stone House Investment Management LLC purchased a new stake in AT&T in the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T in the 2nd quarter worth approximately $26,000. Hager Investment Management Services LLC grew its stake in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the period. Finally, Core Alternative Capital boosted its holdings in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE:T opened at $28.78 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm has a 50-day simple moving average of $28.52 and a 200 day simple moving average of $27.85. The company has a market cap of $205.75 billion, a PE ratio of 16.35, a P/E/G ratio of 3.58 and a beta of 0.44.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on T. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. Morgan Stanley lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.