L & S Advisors Inc raised its stake in AT&T Inc. (NYSE:T) by 416.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,446 shares of the technology company’s stock after purchasing an additional 71,309 shares during the period. L & S Advisors Inc’s holdings in AT&T were worth $2,964,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Horan Securities Inc. lifted its position in AT&T by 439.2% during the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares during the period. Next Capital Management LLC acquired a new position in shares of AT&T in the second quarter valued at approximately $39,000. Contravisory Investment Management Inc. increased its stake in shares of AT&T by 36.0% in the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after buying an additional 338 shares during the period. Smart Portfolios LLC increased its stake in shares of AT&T by 44.8% in the fourth quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock valued at $46,000 after buying an additional 500 shares during the period. Finally, Centaurus Financial Inc. increased its stake in shares of AT&T by 24.4% in the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 53.14% of the company’s stock.
Shares of T traded down $0.24 during trading hours on Friday, reaching $38.14. The stock had a trading volume of 3,232,532 shares, compared to its average volume of 29,901,382. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $38.75. The firm has a 50-day simple moving average of $34.91 and a 200 day simple moving average of $32.57. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $274.60 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 2.38 and a beta of 0.62.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the transaction, the chief executive officer now directly owns 2,366 shares in the company, valued at approximately $80,798.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.
A number of analysts have weighed in on T shares. Barclays increased their target price on shares of AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday. They noted that the move was a valuation call. Oppenheimer set a $41.00 target price on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday. ValuEngine downgraded shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Citigroup increased their target price on shares of AT&T from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. set a $39.00 target price on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $38.03.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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