Cambridge Investment Research Advisors Inc. lifted its position in AT&T Inc. (NYSE:T) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,979,699 shares of the technology company’s stock after purchasing an additional 89,589 shares during the quarter. AT&T accounts for 0.6% of Cambridge Investment Research Advisors Inc.’s portfolio, making the stock its 22nd largest position. Cambridge Investment Research Advisors Inc.’s holdings in AT&T were worth $66,340,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Horan Securities Inc. grew its holdings 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 during the last quarter. Next Capital Management LLC bought a new stake in shares of AT&T during the second quarter worth $39,000. Contravisory Investment Management Inc. grew its holdings 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 during the last quarter. Smart Portfolios LLC grew its holdings 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 during the last quarter. Finally, Centaurus Financial Inc. grew its holdings 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 during the last quarter. Institutional investors and hedge funds own 53.02% of the company’s stock.
AT&T stock traded up $0.03 during midday trading on Wednesday, reaching $37.41. The stock had a trading volume of 5,722,936 shares, compared to its average volume of 37,458,516. The firm’s fifty day simple moving average is $35.74 and its 200-day simple moving average is $32.98. AT&T Inc. has a 1-year low of $26.80 and a 1-year high of $38.75. The stock has a market capitalization of $273.61 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 2.39 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the transaction, the chief executive officer now directly owns 2,366 shares in the company, valued at $80,798.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by company insiders.
Several analysts have recently commented on the company. Oppenheimer set a $41.00 target price on AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. Citigroup raised their price target on AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Raymond James raised their price target on AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Credit Suisse Group raised AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price target on the stock in a research report on Thursday, July 25th. Finally, Bank of America reaffirmed a “buy” rating on shares of AT&T in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $38.10.
AT&T Company Profile
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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