TIG Advisors LLC bought a new stake in AT&T Inc. (NYSE:T) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 179,289 shares of the technology company’s stock, valued at approximately $6,008,000. AT&T accounts for about 0.3% of TIG Advisors LLC’s investment portfolio, making the stock its 28th biggest holding.
A number of other institutional investors also recently added to or reduced their stakes in T. Horan Securities Inc. lifted its position in shares of AT&T by 439.2% during the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares in the last quarter. Next Capital Management LLC acquired a new position in shares of AT&T during the second quarter worth $39,000. Contravisory Investment Management Inc. lifted its position in shares of AT&T by 36.0% during the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after purchasing an additional 338 shares in the last quarter. Smart Portfolios LLC lifted its position in shares of AT&T by 44.8% during the fourth quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after purchasing an additional 500 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its position in shares of AT&T by 24.4% during the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after purchasing an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.
T has been the topic of a number of recent research reports. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price on the stock in a research report on Thursday, July 25th. Oppenheimer set a $41.00 target price on shares of AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Raymond James boosted their target price on shares of AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. set a $39.00 target price on shares of AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Barclays boosted their target price on shares of AT&T from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $38.03.
T traded up $0.32 during trading on Friday, hitting $37.47. The company had a trading volume of 24,844,213 shares, compared to its average volume of 34,072,484. The company has a market cap of $271.53 billion, a PE ratio of 10.64, a P/E/G ratio of 2.34 and a beta of 0.62. The business has a 50-day moving average of $35.39 and a 200-day moving average of $32.79. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $38.75.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Research analysts forecast that AT&T Inc. will post 3.57 earnings per share for the current year.
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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