AT&T Inc. (NYSE:T) Shares Sold by Sfmg LLC

Sfmg LLC lessened its stake in AT&T Inc. (NYSE:T) by 17.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 24,434 shares of the technology company’s stock after selling 5,120 shares during the period. Sfmg LLC’s holdings in AT&T were worth $467,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC purchased a new position in AT&T in the 4th quarter valued at approximately $25,000. Pineridge Advisors LLC purchased a new position in AT&T in the 4th quarter valued at approximately $25,000. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. boosted its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the period. Finally, American Capital Advisory LLC boosted its position in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $21.60 on Wednesday. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The stock has a market cap of $154.88 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 3.66 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a fifty day moving average price of $19.99 and a 200 day moving average price of $18.41.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Barclays lifted their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Hold” and an average target price of $22.31.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.