Kennedy Investment Group Decreases Stake in AT&T Inc. $T

Kennedy Investment Group reduced its stake in AT&T Inc. (NYSE:T) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,043 shares of the technology company’s stock after selling 428 shares during the period. Kennedy Investment Group’s holdings in AT&T were worth $522,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in AT&T in the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T in the 2nd quarter worth approximately $26,000. Hager Investment Management Services LLC increased 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 purchasing an additional 641 shares during the period. IMA Advisory Services Inc. purchased a new position in AT&T in the 1st quarter worth approximately $29,000. Finally, Core Alternative Capital increased its stake in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. boosted their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. The Goldman Sachs Group began coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. Finally, UBS Group set a $33.00 target price on AT&T in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Price Performance

Shares of T stock opened at $28.34 on Thursday. The stock has a market cap of $202.63 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 3.69 and a beta of 0.44. The business’s fifty day moving average is $28.55 and its 200 day moving average is $27.85. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. 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 (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

About AT&T

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.