Boys Arnold & Co. Inc. trimmed its stake in AT&T Inc. (NYSE:T) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 167,509 shares of the technology company’s stock after selling 1,265 shares during the period. Boys Arnold & Co. Inc.’s holdings in AT&T were worth $4,767,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. NuWave Investment Management LLC purchased a new stake in AT&T during the 4th quarter worth approximately $40,000. Mackey Komara & Dankovich LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $76,000. Creative Financial Designs Inc. ADV increased its position in shares of AT&T by 86.3% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,696 shares of the technology company’s stock valued at $77,000 after purchasing an additional 1,249 shares during the last quarter. New Capital Management LP increased its position in shares of AT&T by 234.6% in the 4th quarter. New Capital Management LP now owns 3,349 shares of the technology company’s stock valued at $96,000 after purchasing an additional 2,348 shares during the last quarter. Finally, Stelac Advisory Services LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at approximately $121,000. 53.02% of the stock is currently owned by institutional investors and hedge funds.
T has been the subject of several research analyst reports. ValuEngine upgraded shares of AT&T from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Desjardins restated an “average” rating and issued a $56.50 target price on shares of AT&T in a report on Friday, April 5th. Finally, Raymond James upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Friday, March 15th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. AT&T presently has an average rating of “Buy” and an average target price of $36.35.
AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.86 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.86. The firm had revenue of $44.83 billion during the quarter, compared to analysts’ expectations of $45.20 billion. AT&T had a net margin of 10.59% and a return on equity of 13.16%. AT&T’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. Sell-side analysts expect that AT&T Inc. will post 3.58 EPS for the current fiscal year.
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AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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