Doheny Asset Management CA Buys 960 Shares of AT&T Inc. (NYSE:T)

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Doheny Asset Management CA boosted its stake in shares of AT&T Inc. (NYSE:T) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,396 shares of the technology company’s stock after acquiring an additional 960 shares during the period. Doheny Asset Management CA’s holdings in AT&T were worth $549,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fosun International Ltd lifted its holdings in AT&T by 78.8% in the 4th quarter. Fosun International Ltd now owns 29,500 shares of the technology company’s stock valued at $830,000 after purchasing an additional 13,000 shares in the last quarter. First Merchants Corp lifted its holdings in AT&T by 6.1% in the 4th quarter. First Merchants Corp now owns 76,292 shares of the technology company’s stock valued at $2,177,000 after purchasing an additional 4,365 shares in the last quarter. Hanson & Doremus Investment Management lifted its holdings in AT&T by 10.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 90,870 shares of the technology company’s stock valued at $2,593,000 after purchasing an additional 8,421 shares in the last quarter. Signet Investment Advisory Group Inc. purchased a new position in AT&T in the 4th quarter valued at about $2,051,000. Finally, Pineno Levin & Ford Asset Management Inc. lifted its holdings in AT&T by 8.1% in the 4th quarter. Pineno Levin & Ford Asset Management Inc. now owns 110,228 shares of the technology company’s stock valued at $3,146,000 after purchasing an additional 8,240 shares in the last quarter. Hedge funds and other institutional investors own 53.14% of the company’s stock.

In other news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at $80,798.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.

T has been the topic of several recent analyst reports. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective on the stock in a report on Thursday, July 25th. Citigroup increased their price objective on shares of AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Raymond James increased their price objective on shares of AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Oppenheimer set a $41.00 price objective on shares of AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. set a $39.00 price objective on shares of AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $38.03.

Shares of NYSE:T opened at $37.91 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $38.75. The company has a 50 day moving average of $35.00 and a two-hundred day moving average of $32.60. The company has a market capitalization of $280.44 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 2.43 and a beta of 0.62.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The business had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. During the same quarter last year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 3.57 earnings per share for the current year.

AT&T Company Profile

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

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