III Capital Management Boosts Position in AT&T Inc. (NYSE:T)

III Capital Management boosted its position in AT&T Inc. (NYSE:T) by 38.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 258,954 shares of the technology company’s stock after purchasing an additional 71,822 shares during the period. III Capital Management’s holdings in AT&T were worth $4,949,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in T. Vanguard Group Inc. increased its stake in shares of AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp increased its position in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. LSV Asset Management raised its stake in shares of AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares during the period. Pacer Advisors Inc. lifted its position in shares of AT&T by 2.5% during the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after buying an additional 675,082 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its holdings in AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.5 %

NYSE T opened at $21.60 on Wednesday. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The firm has a market capitalization of $154.88 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 3.66 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average of $19.99 and a two-hundred day moving average of $18.41.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. TD Cowen lifted their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, AT&T has an average 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.