BlackBarn Capital Partners LP Invests $11.47 Million in AT&T Inc. (NYSE:T)

BlackBarn Capital Partners LP bought a new stake in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 600,000 shares of the technology company’s stock, valued at approximately $11,466,000. AT&T makes up 1.0% of BlackBarn Capital Partners LP’s portfolio, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Frank Rimerman Advisors LLC purchased a new position in AT&T in the 4th quarter worth approximately $25,000. Pineridge Advisors LLC acquired a new position in shares of AT&T during the fourth quarter worth $25,000. Strategic Financial Concepts LLC lifted its position in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Finally, American Capital Advisory LLC grew its holdings in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on T. Royal Bank of Canada boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, AT&T has an average rating of “Hold” and a consensus price target of $22.31.

AT&T Trading Up 0.5 %

AT&T stock opened at $21.60 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $22.34. The firm’s 50-day moving average is $19.99 and its 200-day moving average is $18.41. The company has a market cap of $154.88 billion, a P/E ratio of 11.61, a PEG ratio of 3.66 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. On average, equities analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Company 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.