Invst LLC Has $880,000 Stake in AT&T Inc. (NYSE:T)

Invst LLC cut its position in shares of AT&T Inc. (NYSE:T) by 2.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 46,385 shares of the technology company’s stock after selling 993 shares during the quarter. Invst LLC’s holdings in AT&T were worth $880,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of T. Second Line Capital LLC grew its holdings in AT&T by 41.0% during the 2nd quarter. Second Line Capital LLC now owns 32,115 shares of the technology company’s stock worth $614,000 after acquiring an additional 9,344 shares during the period. Wallace Advisory Group LLC boosted its position in shares of AT&T by 8.9% during the 2nd quarter. Wallace Advisory Group LLC now owns 38,929 shares of the technology company’s stock valued at $744,000 after purchasing an additional 3,181 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of AT&T during the 2nd quarter valued at about $665,000. Sunbelt Securities Inc. increased its holdings in AT&T by 1.6% in the second quarter. Sunbelt Securities Inc. now owns 177,667 shares of the technology company’s stock worth $3,395,000 after purchasing an additional 2,744 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in AT&T by 2.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 700,577 shares of the technology company’s stock valued at $13,388,000 after buying an additional 18,869 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $21.90 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a fifty day moving average price of $20.15 and a 200-day moving average price of $18.51. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $22.34. The firm has a market cap of $157.03 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 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 firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the business posted $0.63 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on T. UBS Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Citigroup raised their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada upped their price target on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.