DnB Asset Management AS cut its stake in AT&T Inc. (NYSE:T) by 31.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 823,923 shares of the technology company’s stock after selling 386,600 shares during the period. DnB Asset Management AS’s holdings in AT&T were worth $32,034,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in T. Israel Discount Bank of New York increased its stake in shares of AT&T by 0.6% during the second quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock worth $154,000 after buying an additional 25 shares during the period. Cim LLC increased its stake in AT&T by 1.0% in the second quarter. Cim LLC now owns 6,399 shares of the technology company’s stock valued at $241,000 after purchasing an additional 62 shares during the last quarter. Keel Point LLC increased its stake in AT&T by 0.4% in the second quarter. Keel Point LLC now owns 20,182 shares of the technology company’s stock valued at $761,000 after purchasing an additional 87 shares during the last quarter. Asset Planning Services Ltd. increased its stake in AT&T by 2.5% in the second quarter. Asset Planning Services Ltd. now owns 4,273 shares of the technology company’s stock valued at $161,000 after purchasing an additional 104 shares during the last quarter. Finally, OLD Dominion Capital Management Inc. increased its stake in AT&T by 0.5% in the second quarter. OLD Dominion Capital Management Inc. now owns 22,863 shares of the technology company’s stock valued at $863,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.
A number of equities analysts have recently issued reports on T shares. Nomura lowered their target price on shares of AT&T to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, November 21st. Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a report on Friday, January 12th. KeyCorp raised their target price on AT&T from $35.00 to $38.00 and gave the company a “sector weight” rating in a report on Tuesday, January 2nd. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.38 price target for the company in a research report on Wednesday, January 3rd. Finally, Jefferies Group reiterated a “buy” rating and set a $36.38 price objective (down previously from $48.00) on shares of AT&T in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $41.83.
In other AT&T news, CEO John Donovan bought 27,997 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $35.68 per share, for a total transaction of $998,932.96. Following the purchase, the chief executive officer now directly owns 179,834 shares in the company, valued at $6,416,477.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard W. Fisher acquired 2,600 shares of AT&T stock in a transaction on Monday, February 5th. The stock was purchased at an average price of $38.10 per share, with a total value of $99,060.00. Following the transaction, the director now directly owns 2,600 shares in the company, valued at approximately $99,060. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.
Shares of AT&T Inc. (T) traded down $0.37 during trading on Wednesday, hitting $37.03. The stock had a trading volume of 14,738,965 shares, compared to its average volume of 28,962,834. AT&T Inc. has a twelve month low of $32.55 and a twelve month high of $42.70. The firm has a market capitalization of $227,420.00, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.97 and a current ratio of 0.97.
AT&T (NYSE:T) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.65 by $0.13. The business had revenue of $41.68 billion during the quarter, compared to the consensus estimate of $41.21 billion. AT&T had a return on equity of 14.55% and a net margin of 18.34%. AT&T’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 earnings per share. equities research analysts expect that AT&T Inc. will post 3.48 EPS for the current year.
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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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