Security National Bank of SO Dak lowered its position in shares of AT&T Inc. (NYSE:T) by 6.1% in the second quarter, HoldingsChannel reports. The fund owned 7,417 shares of the technology company’s stock after selling 483 shares during the period. Security National Bank of SO Dak’s holdings in AT&T were worth $249,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Horan Securities Inc. increased its holdings in AT&T by 439.2% in the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock valued at $34,000 after purchasing an additional 830 shares during the last quarter. Next Capital Management LLC acquired a new position in shares of AT&T during the second quarter worth about $39,000. Contravisory Investment Management Inc. boosted its position in shares of AT&T by 36.0% during the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after buying an additional 338 shares during the period. Smart Portfolios LLC boosted its position in shares of AT&T by 44.8% during the fourth quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after buying an additional 500 shares during the period. Finally, Centaurus Financial Inc. boosted its position in shares of AT&T by 24.4% during the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after buying an additional 333 shares during the period. Institutional investors own 53.04% of the company’s stock.
T traded up $0.33 on Friday, hitting $37.48. 24,556,037 shares of the company were exchanged, compared to its average volume of 34,072,484. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $38.75. The company has a market cap of $271.53 billion, a PE ratio of 10.65, a PEG ratio of 2.34 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s fifty day moving average is $35.39 and its 200-day moving average is $32.79.
AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The business had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. AT&T’s revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts expect that AT&T Inc. will post 3.57 EPS for the current fiscal year.
T has been the subject of several recent research reports. Citigroup upped their price objective on AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Bank of America reaffirmed a “buy” rating on shares of AT&T in a research report on Monday, September 9th. DZ Bank reaffirmed a “hold” rating and set a $38.00 price objective on shares of AT&T in a research report on Wednesday. Raymond James upped their price objective on AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Credit Suisse Group raised AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.03.
In related news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.
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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