Sunbelt Securities Inc. Acquires 2,744 Shares of AT&T Inc. (NYSE:T)

Sunbelt Securities Inc. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 177,667 shares of the technology company’s stock after purchasing an additional 2,744 shares during the period. Sunbelt Securities Inc.’s holdings in AT&T were worth $3,395,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in T. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth $25,000. Pineridge Advisors LLC bought a new position in AT&T in the fourth quarter valued at about $25,000. Strategic Financial Concepts LLC boosted its holdings 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 valued at $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in 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 acquiring an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC boosted its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.2 %

NYSE:T opened at $21.90 on Monday. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. 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 stock has a market capitalization of $157.03 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The business’s 50-day simple moving average is $20.15 and its 200-day simple moving average is $18.51.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on T shares. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Oppenheimer raised their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Evercore ISI raised their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Citigroup raised their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One equities research 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. According to MarketBeat.com, AT&T currently has an average rating of “Hold” and a consensus price target of $22.38.

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.