Bank of Montreal Can Has $321.68 Million Holdings in AT&T Inc. (T)
Bank of Montreal Can cut its holdings in AT&T Inc. (NYSE:T) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,525,909 shares of the technology company’s stock after selling 419,255 shares during the period. Bank of Montreal Can owned 0.14% of AT&T worth $321,684,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Achmea Investment Management B.V. acquired a new stake in shares of AT&T during the 1st quarter worth $42,198,000. Schwab Charles Investment Management Inc. increased its holdings in shares of AT&T by 4.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock worth $928,960,000 after buying an additional 985,330 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of AT&T during the 1st quarter worth $25,127,000. State of Wisconsin Investment Board increased its holdings in shares of AT&T by 11.0% during the 1st quarter. State of Wisconsin Investment Board now owns 6,051,883 shares of the technology company’s stock worth $251,456,000 after buying an additional 597,735 shares during the last quarter. Finally, Thomaspartners Inc. increased its holdings in shares of AT&T by 9.0% during the 1st quarter. Thomaspartners Inc. now owns 5,712,904 shares of the technology company’s stock worth $237,371,000 after buying an additional 470,906 shares during the last quarter. Institutional investors own 54.99% of the company’s stock.
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Shares of AT&T Inc. (T) traded up 0.52% during mid-day trading on Thursday, reaching $38.97. 6,003,888 shares of the company were exchanged. AT&T Inc. has a 12 month low of $35.10 and a 12 month high of $43.03. The stock has a market capitalization of $239.28 billion, a P/E ratio of 18.31 and a beta of 0.49. The firm has a 50-day moving average price of $37.58 and a 200 day moving average price of $38.81.
AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. Equities research analysts anticipate that AT&T Inc. will post $2.94 EPS for the current fiscal year.
A number of analysts have recently commented on the company. Vetr upgraded AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price objective for the company in a report on Wednesday, August 16th. Morgan Stanley upped their price target on shares of AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Cowen and Company reaffirmed a “market perform” rating and set a $41.00 price target (down from $43.00) on shares of AT&T in a research report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of AT&T in a research report on Thursday, August 24th. Finally, Drexel Hamilton reaffirmed a “hold” rating on shares of AT&T in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $43.87.
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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