American National Bank Increases Stake in AT&T Inc. (T)
American National Bank increased its holdings in AT&T Inc. (NYSE:T) by 1.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,147 shares of the technology company’s stock after purchasing an additional 284 shares during the period. American National Bank’s holdings in AT&T were worth $722,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in T. Achmea Investment Management B.V. purchased a new stake in shares of AT&T in the 1st quarter valued at $42,198,000. Schwab Charles Investment Management Inc. boosted its stake in shares of AT&T by 4.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock valued at $928,960,000 after purchasing an additional 985,330 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of AT&T in the 1st quarter valued at $25,127,000. State of Wisconsin Investment Board boosted its stake in shares of AT&T by 11.0% in the 1st quarter. State of Wisconsin Investment Board now owns 6,051,883 shares of the technology company’s stock valued at $251,456,000 after purchasing an additional 597,735 shares in the last quarter. Finally, Thomaspartners Inc. boosted its stake in shares of AT&T by 9.0% in the 1st quarter. Thomaspartners Inc. now owns 5,712,904 shares of the technology company’s stock valued at $237,371,000 after purchasing an additional 470,906 shares in the last quarter. 55.01% of the stock is owned by institutional investors.
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AT&T Inc. (NYSE T) traded up 2.15% during mid-day trading on Friday, hitting $37.10. 47,942,916 shares of the stock were exchanged. The stock has a 50 day moving average of $37.65 and a 200-day moving average of $38.92. The stock has a market cap of $227.79 billion, a price-to-earnings ratio of 17.43 and a beta of 0.49. AT&T Inc. has a 52-week low of $35.10 and a 52-week high of $43.03.
AT&T (NYSE:T) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Equities analysts predict that AT&T Inc. will post $2.94 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada set a $42.00 price objective on shares of AT&T and gave the company a “hold” rating in a research note on Saturday, May 20th. Vetr raised shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price objective for the company in a research note on Wednesday, August 16th. Cowen and Company reaffirmed a “market perform” rating and issued a $41.00 price objective (down previously from $43.00) on shares of AT&T in a research note on Wednesday, July 26th. Drexel Hamilton reiterated a “hold” rating on shares of AT&T in a report on Friday, June 2nd. Finally, ValuEngine lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.41.
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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