William B. Walkup & Associates Inc. Makes New Investment in AT&T Inc. (NYSE:T)

William B. Walkup & Associates Inc. purchased a new position in shares of AT&T Inc. (NYSE:T) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,805 shares of the technology company’s stock, valued at approximately $665,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Pineridge Advisors LLC purchased a new stake in AT&T during the fourth quarter worth about $25,000. Frank Rimerman Advisors LLC purchased a new stake in AT&T during the fourth quarter worth about $25,000. American Capital Advisory LLC increased 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 worth $30,000 after buying an additional 807 shares during the period. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter worth approximately $30,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on T shares. Oppenheimer upped their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. UBS Group restated a “buy” rating and set a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Finally, Evercore ISI upped their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.38.

AT&T Price Performance

T stock opened at $21.90 on Monday. The company has a market capitalization of $157.03 billion, a P/E ratio of 11.77, a PEG ratio of 3.68 and a beta of 0.59. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The business has a 50 day simple moving average of $20.15 and a 200-day simple moving average of $18.51. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

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

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.