AT&T Inc. (T) Shares Bought by Needelman Asset Management Inc.
Needelman Asset Management Inc. grew its holdings in AT&T Inc. (NYSE:T) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,555 shares of the technology company’s stock after acquiring an additional 265 shares during the period. AT&T comprises about 2.2% of Needelman Asset Management Inc.’s investment portfolio, making the stock its 28th biggest position. Needelman Asset Management Inc.’s holdings in AT&T were worth $851,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in T. Achmea Investment Management B.V. purchased a new position in shares of AT&T in the first quarter valued at about $42,198,000. Schwab Charles Investment Management Inc. lifted its position in shares of AT&T by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock valued at $928,960,000 after acquiring an additional 985,330 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of AT&T in the first quarter valued at about $25,127,000. State of Wisconsin Investment Board lifted its position in shares of AT&T by 11.0% in the first quarter. State of Wisconsin Investment Board now owns 6,051,883 shares of the technology company’s stock valued at $251,456,000 after acquiring an additional 597,735 shares in the last quarter. Finally, Thomaspartners Inc. lifted its position in shares of AT&T by 9.0% in the first quarter. Thomaspartners Inc. now owns 5,712,904 shares of the technology company’s stock valued at $237,371,000 after acquiring an additional 470,906 shares in the last quarter. Institutional investors and hedge funds own 54.99% of the company’s stock.
AT&T Inc. (T) traded up 0.040% on Monday, hitting $37.115. The stock had a trading volume of 15,127,650 shares. The stock has a market cap of $227.89 billion, a PE ratio of 17.441 and a beta of 0.49. AT&T Inc. has a 12 month low of $35.10 and a 12 month high of $43.03. The firm’s 50 day moving average price is $37.65 and its 200-day moving average price is $38.92.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The business had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 EPS. On average, analysts forecast that AT&T Inc. will post $2.94 EPS for the current year.
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Several equities analysts have recently commented on T shares. Royal Bank Of Canada restated a “hold” rating and issued a $42.00 price objective on shares of AT&T in a research report on Sunday, July 9th. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $41.56 target price on the stock in a report on Monday, July 10th. Zacks Investment Research cut AT&T from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Moffett Nathanson raised AT&T from a “sell” rating to a “neutral” rating in a report on Tuesday, May 30th. They noted that the move was a valuation call. Finally, BidaskClub raised AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. AT&T has an average rating of “Hold” and a consensus target price 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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