AT&T Inc. (T) Position Lifted by Empirical Financial Services LLC

Empirical Financial Services LLC lifted its stake in AT&T Inc. (NYSE:T) by 81.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,083 shares of the technology company’s stock after acquiring an additional 7,681 shares during the period. Empirical Financial Services LLC’s holdings in AT&T were worth $645,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Holderness Investments Co. grew its holdings in AT&T by 62.9% in the 1st quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock valued at $4,008,000 after buying an additional 37,234 shares during the last quarter. Doyle Wealth Management grew its holdings in shares of AT&T by 4.3% during the 2nd quarter. Doyle Wealth Management now owns 37,561 shares of the technology company’s stock worth $1,417,000 after purchasing an additional 1,559 shares in the last quarter. Telos Capital Management Inc. grew its holdings in shares of AT&T by 4.8% during the 2nd quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock worth $2,641,000 after purchasing an additional 3,197 shares in the last quarter. Altfest L J & Co. Inc. grew its holdings in shares of AT&T by 42.1% during the 2nd quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock worth $1,721,000 after purchasing an additional 13,510 shares in the last quarter. Finally, Welch Investments LLC grew its holdings in shares of AT&T by 9.3% during the 2nd quarter. Welch Investments LLC now owns 109,245 shares of the technology company’s stock worth $4,122,000 after purchasing an additional 9,291 shares in the last quarter. 55.86% of the stock is currently owned by institutional investors and hedge funds.

AT&T Inc. (T) traded up $0.15 during trading on Thursday, hitting $36.26. The company had a trading volume of 16,263,922 shares, compared to its average volume of 25,122,645. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market cap of $224,380.45, a P/E ratio of 12.47, a PEG ratio of 3.04 and a beta of 0.44. AT&T Inc. has a 1-year low of $32.55 and a 1-year high of $43.03.

AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. sell-side analysts anticipate that AT&T Inc. will post 2.92 EPS for the current year.

In other AT&T news, Director Matthew K. Rose acquired 29,600 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was purchased at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the transaction, the director now owns 3,100 shares in the company, valued at approximately $104,625. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Several brokerages have recently weighed in on T. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price objective on the stock in a report on Wednesday, August 16th. Moffett Nathanson reissued a “neutral” rating on shares of AT&T in a report on Monday, October 16th. Jefferies Group reissued a “buy” rating and set a $36.38 price objective (down previously from $48.00) on shares of AT&T in a report on Friday, December 1st. Morgan Stanley lifted their price objective on AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 27th. Finally, Macquarie reissued a “buy” rating and set a $43.00 price objective on shares of AT&T in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $42.81.

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About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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