CQS Cayman LP Purchases Shares of 25,500 AT&T Inc. (T)
CQS Cayman LP purchased a new stake in AT&T Inc. (NYSE:T) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 25,500 shares of the technology company’s stock, valued at approximately $819,000.
Several other institutional investors have also recently bought and sold shares of T. Price Wealth Management Inc. boosted its position in shares of AT&T by 165.1% during the 2nd quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock worth $106,000 after purchasing an additional 2,064 shares during the period. CKW Financial Group boosted its position in shares of AT&T by 105.0% during the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after purchasing an additional 2,159 shares during the period. Braun Bostich & Associates Inc. purchased a new position in shares of AT&T during the 1st quarter worth approximately $137,000. Cerebellum GP LLC purchased a new position in shares of AT&T during the 2nd quarter worth approximately $178,000. Finally, Stevens First Principles Investment Advisors boosted its position in shares of AT&T by 38.6% during the 2nd quarter. Stevens First Principles Investment Advisors now owns 6,286 shares of the technology company’s stock worth $202,000 after purchasing an additional 1,751 shares during the period. 63.61% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on T. Argus reiterated a “buy” rating and set a $48.00 target price on shares of AT&T in a report on Friday, October 26th. Cowen upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $36.00 in a report on Monday, December 3rd. Deutsche Bank increased their target price on shares of AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, September 24th. UBS Group upgraded shares of AT&T from a “neutral” rating to a “buy” rating and increased their target price for the stock from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Finally, Bank of America reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $36.42.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a return on equity of 13.61% and a net margin of 20.40%. The business had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts expect that AT&T Inc. will post 3.51 EPS for the current fiscal year.
In other news, Director Michael B. Mccallister bought 4,000 shares of the stock in a transaction dated Friday, October 26th. The shares were acquired at an average price of $29.14 per share, with a total value of $116,560.00. Following the completion of the acquisition, the director now directly owns 7,361 shares in the company, valued at $214,499.54. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.
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AT&T Company Profile
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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