RFG Advisory LLC cut its position in AT&T Inc. (NYSE:T) by 70.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,111 shares of the technology company’s stock after selling 38,524 shares during the quarter. RFG Advisory LLC’s holdings in AT&T were worth $541,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of T. Providence Capital Advisors LLC increased its position in AT&T by 137.8% in the fourth quarter. Providence Capital Advisors LLC now owns 111,077 shares of the technology company’s stock worth $3,170,000 after purchasing an additional 64,374 shares during the period. Jarislowsky Fraser Ltd increased its position in AT&T by 5.2% in the fourth quarter. Jarislowsky Fraser Ltd now owns 33,610 shares of the technology company’s stock worth $959,000 after purchasing an additional 1,653 shares during the period. Walter & Keenan Financial Consulting Co. MI ADV increased its position in AT&T by 0.9% in the fourth quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 53,134 shares of the technology company’s stock worth $1,516,000 after purchasing an additional 467 shares during the period. Parsons Capital Management Inc. RI increased its position in AT&T by 2.1% in the fourth quarter. Parsons Capital Management Inc. RI now owns 129,159 shares of the technology company’s stock worth $3,686,000 after purchasing an additional 2,673 shares during the period. Finally, Grimes & Company Inc. increased its position in AT&T by 4.5% in the fourth quarter. Grimes & Company Inc. now owns 37,028 shares of the technology company’s stock worth $1,057,000 after purchasing an additional 1,595 shares during the period. Hedge funds and other institutional investors own 53.02% of the company’s stock.
In other news, CEO John T. Stankey sold 4,024 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction 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 approximately $80,798.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by insiders.
AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. The company had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. Sell-side analysts predict that AT&T Inc. will post 3.57 EPS for the current year.
A number of analysts recently commented on T shares. Cowen set a $40.00 price objective on AT&T and gave the stock a “buy” rating in a research report on Friday, September 6th. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. DZ Bank reiterated a “hold” rating and issued a $38.00 price objective on shares of AT&T in a research report on Wednesday, September 18th. Finally, Citigroup lifted their price objective on AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. AT&T presently has an average rating of “Buy” and an average target price of $38.10.
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.
Featured Story: What is a good dividend yield?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.