IMS Capital Management Takes $259,000 Position in AT&T Inc. $T

IMS Capital Management bought a new stake in AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,962 shares of the technology company’s stock, valued at approximately $259,000.

A number of other large investors have also modified their holdings of the stock. James J. Burns & Company LLC grew its stake in shares of AT&T by 1.0% in the second quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company’s stock valued at $1,168,000 after buying an additional 383 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of AT&T by 0.8% in the second quarter. Ballentine Partners LLC now owns 98,885 shares of the technology company’s stock valued at $2,862,000 after buying an additional 813 shares in the last quarter. BCS Wealth Management grew its stake in shares of AT&T by 20.6% in the second quarter. BCS Wealth Management now owns 57,858 shares of the technology company’s stock valued at $1,674,000 after buying an additional 9,900 shares in the last quarter. Norden Group LLC grew its stake in shares of AT&T by 2.4% in the second quarter. Norden Group LLC now owns 130,072 shares of the technology company’s stock valued at $3,764,000 after buying an additional 3,081 shares in the last quarter. Finally, Accurate Wealth Management LLC grew its stake in shares of AT&T by 12.7% in the second quarter. Accurate Wealth Management LLC now owns 52,555 shares of the technology company’s stock valued at $1,452,000 after buying an additional 5,912 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on T. UBS Group set a $33.00 price objective on AT&T in a research note on Thursday, September 18th. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Wells Fargo & Company raised their price objective on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $30.74.

AT&T Trading Down 1.6%

Shares of NYSE T opened at $28.34 on Thursday. The company has a market cap of $202.63 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 3.69 and a beta of 0.44. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock’s 50 day simple moving average is $28.55 and its 200 day simple moving average is $27.85.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Company 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.