Delta Investment Management LLC Acquires 1,962 Shares of AT&T Inc. (NYSE:T)

Delta Investment Management LLC increased its stake in AT&T Inc. (NYSE:T) by 19.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,139 shares of the technology company’s stock after acquiring an additional 1,962 shares during the period. Delta Investment Management LLC’s holdings in AT&T were worth $232,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth about $25,000. Pineridge Advisors LLC purchased a new stake in AT&T in the 4th quarter worth about $25,000. Strategic Financial Concepts LLC lifted its stake in AT&T by 227.6% in 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 during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in shares of AT&T by 356.5% during the second 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 grew its stake in shares of AT&T by 107.5% during the second 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 last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 0.5 %

Shares of NYSE:T opened at $21.66 on Friday. 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 stock has a market cap of $155.31 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 3.66 and a beta of 0.59. The business’s 50 day moving average is $20.04 and its 200 day moving average is $18.44. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $22.34.

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

Analysts Set New Price Targets

T has been the subject of a number of research analyst reports. Barclays raised their price target on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their price target 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. TD Cowen lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Redburn Atlantic raised shares of 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.