AT&T Inc. (T) Stake Increased by Highland Capital Management LLC
Highland Capital Management LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 1.3% in the second quarter, Holdings Channel reports. The institutional investor owned 325,612 shares of the technology company’s stock after acquiring an additional 4,180 shares during the quarter. Highland Capital Management LLC’s holdings in AT&T were worth $10,455,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in T. Ironsides Asset Advisors LLC boosted its position in shares of AT&T by 450.8% during the 2nd quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock worth $1,735,000 after purchasing an additional 44,231 shares during the period. Guardian Investment Management boosted its position in AT&T by 8.4% in the 2nd quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock valued at $4,598,000 after buying an additional 11,054 shares during the period. Rowland & Co. Investment Counsel ADV boosted its position in AT&T by 1.6% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 131,746 shares of the technology company’s stock valued at $4,226,000 after buying an additional 2,131 shares during the period. TRUE Private Wealth Advisors boosted its position in AT&T by 30.3% in the 2nd quarter. TRUE Private Wealth Advisors now owns 52,786 shares of the technology company’s stock valued at $1,694,000 after buying an additional 12,275 shares during the period. Finally, Baker Avenue Asset Management LP boosted its position in AT&T by 35.3% in the 1st quarter. Baker Avenue Asset Management LP now owns 28,820 shares of the technology company’s stock valued at $1,027,000 after buying an additional 7,520 shares during the period. Institutional investors and hedge funds own 64.72% of the company’s stock.
In related news, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were purchased at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the purchase, the director now directly owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew K. Rose purchased 65,500 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were bought at an average price of $30.51 per share, for a total transaction of $1,998,405.00. Following the completion of the purchase, the director now directly owns 81,319 shares in the company, valued at $2,481,042.69. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.
AT&T (NYSE:T) last released its quarterly earnings data on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The business had revenue of $38.99 billion during the quarter, compared to analysts’ expectations of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 EPS. sell-side analysts forecast that AT&T Inc. will post 3.54 earnings per share for the current year.
Several brokerages have commented on T. ValuEngine raised shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Macquarie reissued a “buy” rating and issued a $35.00 price target on shares of AT&T in a research report on Wednesday. Bank of America reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 21st. Wells Fargo & Co cut shares of AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 price target for the company. in a research report on Wednesday, August 22nd. Finally, Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Tuesday, July 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.02.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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