Point72 Europe London LLP Takes Position in AT&T Inc. (NYSE:T)

Point72 Europe London LLP purchased a new position in shares of AT&T Inc. (NYSE:T) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 174,300 shares of the technology company’s stock, valued at approximately $3,331,000.

Several other hedge funds also recently added to or reduced their stakes in T. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T during the fourth quarter worth $25,000. Pineridge Advisors LLC acquired a new position in AT&T in the 4th quarter worth $25,000. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.5 %

NYSE:T opened at $21.60 on Wednesday. The firm has a market capitalization of $154.88 billion, a P/E ratio of 11.61, a P/E/G ratio of 3.66 and a beta of 0.59. The business has a 50 day simple moving average of $19.99 and a 200 day simple moving average of $18.41. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. TD Cowen lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Finally, Oppenheimer boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has an average rating of “Hold” and an average price target of $22.31.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.