Zurich Insurance Group Ltd FI decreased its holdings in shares of AT&T Inc. (NYSE:T) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,237,900 shares of the technology company’s stock after selling 13,894 shares during the period. AT&T comprises 0.8% of Zurich Insurance Group Ltd FI’s portfolio, making the stock its 24th biggest holding. Zurich Insurance Group Ltd FI’s holdings in AT&T were worth $41,482,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.2% in the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock valued at $18,879,489,000 after purchasing an additional 6,744,699 shares in the last quarter. Northern Trust Corp increased its position in AT&T by 2.0% in the 2nd quarter. Northern Trust Corp now owns 86,817,291 shares of the technology company’s stock valued at $2,909,247,000 after acquiring an additional 1,729,145 shares during the period. Bank of New York Mellon Corp increased its position in AT&T by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 68,529,809 shares of the technology company’s stock valued at $2,296,433,000 after acquiring an additional 2,201,538 shares during the period. Morgan Stanley increased its position in AT&T by 11.2% in the 2nd quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock valued at $1,979,052,000 after acquiring an additional 5,931,167 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in AT&T by 1.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 35,596,822 shares of the technology company’s stock valued at $1,192,850,000 after acquiring an additional 423,599 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.
A number of research firms recently issued reports on T. ValuEngine downgraded shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a report on Thursday, July 25th. Citigroup lifted their target price on shares of AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Cowen set a $40.00 target price on shares of AT&T and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Raymond James lifted their target price on shares of AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $38.03.
In related news, CEO John T. Stankey sold 4,024 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the transaction, the chief executive officer now owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.
Shares of T traded up $0.33 during trading hours on Friday, hitting $37.48. The company’s stock had a trading volume of 24,556,037 shares, compared to its average volume of 34,072,484. The company has a market cap of $271.53 billion, a price-to-earnings 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 current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $35.39 and a two-hundred day simple moving average of $32.79. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $38.75.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $44.96 billion during the quarter, compared to analysts’ expectations of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. AT&T’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. Research analysts predict that AT&T Inc. will post 3.57 earnings per share for the current year.
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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