Teachers Advisors LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,000,888 shares of the technology company’s stock after selling 1,491,251 shares during the quarter. AT&T accounts for 0.6% of Teachers Advisors LLC’s portfolio, making the stock its 25th biggest holding. Teachers Advisors LLC’s holdings in AT&T were worth $470,150,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Price Wealth Management Inc. grew its position in shares of AT&T by 165.1% during the second quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock worth $106,000 after purchasing an additional 2,064 shares in the last quarter. Chessman Wealth Strategies RIA purchased a new stake in shares of AT&T during the third quarter worth about $114,000. Stelac Advisory Services LLC purchased a new stake in shares of AT&T during the third quarter worth about $121,000. Hoertkorn Richard Charles grew its position in shares of AT&T by 66.7% during the third quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock worth $168,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Lenox Wealth Management Inc. grew its position in shares of AT&T by 184.6% during the third quarter. Lenox Wealth Management Inc. now owns 5,769 shares of the technology company’s stock worth $194,000 after purchasing an additional 3,742 shares in the last quarter. 63.47% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO John T. Stankey sold 3,748 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $29.84, for a total value of $111,840.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.
AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.86. The business had revenue of $47.99 billion during the quarter, compared to analyst estimates of $48.50 billion. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. As a group, analysts expect that AT&T Inc. will post 3.6 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. Cowen increased their target price on AT&T from $34.00 to $36.00 in a research report on Sunday, December 9th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and set a $31.82 target price for the company in a research report on Sunday, December 9th. Barclays set a $32.00 price target on AT&T and gave the company a “hold” rating in a report on Friday, January 18th. Citigroup upgraded AT&T from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, December 11th. Finally, Moffett Nathanson upgraded AT&T from a “sell” rating to a “neutral” rating and set a $28.00 price target for the company in a report on Monday, November 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $35.71.
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AT&T Company Profile
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
Further Reading: Market Capitalization and Individual Investors
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