LaFleur & Godfrey LLC Increases Stock Position in AT&T Inc. (NYSE:T)

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LaFleur & Godfrey LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,652 shares of the technology company’s stock after buying an additional 3,078 shares during the quarter. LaFleur & Godfrey LLC’s holdings in AT&T were worth $2,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horan Securities Inc. raised its position in AT&T by 439.2% in the 2nd 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 purchased a new stake in AT&T in the 2nd quarter worth about $39,000. Contravisory Investment Management Inc. grew its stake in AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after acquiring an additional 338 shares in the last quarter. Smart Portfolios LLC grew its stake in AT&T by 44.8% in the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after acquiring an additional 500 shares in the last quarter. Finally, Centaurus Financial Inc. grew its stake in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after acquiring an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

In other news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by company insiders.

A number of research firms have recently issued reports on T. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. ValuEngine cut shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Desjardins reissued an “average” rating and set a $55.50 target price on shares of AT&T in a research report on Tuesday, August 6th. Barclays raised their target price on shares of AT&T from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. They noted that the move was a valuation call. Finally, DZ Bank restated a “hold” rating and set a $38.00 price target on shares of AT&T in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $38.03.

T stock opened at $37.91 on Friday. The firm has a market cap of $268.61 billion, a PE ratio of 10.77, a P/E/G ratio of 2.31 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s fifty day moving average is $35.45 and its 200 day moving average is $32.82. AT&T Inc. has a one year low of $26.80 and a one year high of $38.75.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.89. The company had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business earned $0.91 earnings per share. Research analysts predict that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.

AT&T 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.

Further Reading: Neutral Rating

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

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