AT&T Inc. (NYSE:T) Shares Purchased by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. grew its position in shares of AT&T Inc. (NYSE:T) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 225,683 shares of the technology company’s stock after acquiring an additional 3,536 shares during the period. AT&T comprises about 0.8% of MidWestOne Financial Group Inc.’s holdings, making the stock its 20th largest position. MidWestOne Financial Group Inc.’s holdings in AT&T were worth $4,313,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV increased its position in AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares in the last quarter. Kodai Capital Management LP purchased a new stake in AT&T during the fourth quarter worth approximately $152,109,000. AQR Capital Management LLC grew its stake in AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the period. Bank of New York Mellon Corp increased its position in shares of AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after acquiring an additional 4,970,954 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $21.90 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $22.34. The firm’s 50-day simple moving average is $20.15 and its 200-day simple moving average is $18.49. The firm has a market cap of $156.99 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data 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 return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

T has been the subject of a number of research reports. UBS Group reaffirmed a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Barclays increased their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.38.

AT&T 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.