162,419 Shares in AT&T Inc. (NYSE:T) Acquired by Resources Management Corp CT ADV

Resources Management Corp CT ADV purchased a new position in AT&T Inc. (NYSE:T) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 162,419 shares of the technology company’s stock, valued at approximately $6,146,000. AT&T comprises 1.1% of Resources Management Corp CT ADV’s holdings, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of T. Princeton Global Asset Management LLC grew its position in AT&T by 13.3% during the 3rd quarter. Princeton Global Asset Management LLC now owns 40,550 shares of the technology company’s stock worth $1,517,000 after purchasing an additional 4,756 shares in the last quarter. Keeley Teton Advisors LLC boosted its position in shares of AT&T by 82.2% in the third quarter. Keeley Teton Advisors LLC now owns 13,870 shares of the technology company’s stock worth $525,000 after buying an additional 6,256 shares during the period. Metropolitan Life Insurance Co NY boosted its position in shares of AT&T by 0.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 1,107,218 shares of the technology company’s stock worth $41,897,000 after buying an additional 5,602 shares during the period. Prestige Wealth Management Group LLC boosted its position in shares of AT&T by 10.9% in the third quarter. Prestige Wealth Management Group LLC now owns 20,232 shares of the technology company’s stock worth $766,000 after buying an additional 1,992 shares during the period. Finally, Signet Financial Management LLC grew its holdings in shares of AT&T by 5.5% during the third quarter. Signet Financial Management LLC now owns 53,552 shares of the technology company’s stock valued at $2,108,000 after buying an additional 2,782 shares in the last quarter. 53.65% of the stock is currently owned by institutional investors.

Several analysts recently commented on T shares. Raymond James restated a “buy” rating and set a $45.00 price target (up from $40.00) on shares of AT&T in a report on Tuesday, October 29th. Barclays upped their price objective on shares of AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. They noted that the move was a valuation call. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $42.00 target price for the company. in a research report on Thursday, November 14th. Bank of America reissued a “buy” rating on shares of AT&T in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AT&T from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. AT&T currently has a consensus rating of “Hold” and a consensus target price of $39.22.

Shares of NYSE T traded up $0.55 during trading hours on Wednesday, hitting $38.10. 38,185,430 shares of the stock were exchanged, compared to its average volume of 28,539,684. AT&T Inc. has a one year low of $26.80 and a one year high of $39.70. The company’s 50 day moving average is $38.21 and its 200 day moving average is $35.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $279.23 billion, a P/E ratio of 10.82, a P/E/G ratio of 2.36 and a beta of 0.62.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business had revenue of $44.59 billion for the quarter, compared to analyst estimates of $45.45 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.

AT&T 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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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