AT&T Inc. (T) Position Reduced by Beacon Financial Group
Beacon Financial Group cut its holdings in AT&T Inc. (NYSE:T) by 2.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,162 shares of the technology company’s stock after selling 1,005 shares during the period. Beacon Financial Group’s holdings in AT&T were worth $1,887,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. GW&K Investment Management LLC raised its position in AT&T by 5.1% in the first quarter. GW&K Investment Management LLC now owns 756,535 shares of the technology company’s stock valued at $31,434,000 after purchasing an additional 36,756 shares during the period. Gulf International Bank UK Ltd raised its position in AT&T by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 1,914,778 shares of the technology company’s stock valued at $79,559,000 after purchasing an additional 34,600 shares during the period. Union Bankshares Corp raised its position in AT&T by 1.3% in the first quarter. Union Bankshares Corp now owns 165,676 shares of the technology company’s stock valued at $6,884,000 after purchasing an additional 2,157 shares during the period. Bouchey Financial Group Ltd raised its position in AT&T by 6.4% in the first quarter. Bouchey Financial Group Ltd now owns 7,174 shares of the technology company’s stock valued at $298,000 after purchasing an additional 432 shares during the period. Finally, Lynch & Associates IN raised its position in AT&T by 1.8% in the first quarter. Lynch & Associates IN now owns 59,227 shares of the technology company’s stock valued at $2,461,000 after purchasing an additional 1,074 shares during the period. Hedge funds and other institutional investors own 54.99% of the company’s stock.
T has been the topic of a number of research analyst reports. Vetr raised AT&T from a “hold” rating to a “buy” rating and set a $39.93 target price on the stock in a research report on Wednesday, May 24th. Barclays PLC cut their target price on AT&T from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, July 14th. Royal Bank Of Canada reissued a “hold” rating and issued a $42.00 target price on shares of AT&T in a research report on Sunday, July 9th. ValuEngine lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Bank of America Corporation lowered AT&T from a “buy” rating to a “neutral” rating and cut their target price for the company from $46.00 to $39.00 in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.41.
Shares of AT&T Inc. (T) traded up 2.11% during midday trading on Tuesday, hitting $38.21. 24,435,204 shares of the stock traded hands. The firm has a 50-day moving average price of $37.60 and a 200 day moving average price of $38.84. AT&T Inc. has a one year low of $35.10 and a one year high of $43.03. The stock has a market cap of $234.61 billion, a price-to-earnings ratio of 17.96 and a beta of 0.49.
AT&T (NYSE:T) last released its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The company 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 company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 EPS. Analysts anticipate that AT&T Inc. will post $2.94 earnings per share for the current year.
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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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