Invst LLC cut its position in shares of AT&T Inc. (NYSE:T – Free Report) 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.
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.
Read Our Latest Stock Report on T
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.
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