Advent Capital Management DE Purchases New Position in AT&T Inc. (T)

Advent Capital Management DE purchased a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 50,000 shares of the technology company’s stock, valued at approximately $1,944,000.

Other large investors have also modified their holdings of the company. Delphi Private Advisors LLC lifted its stake in shares of AT&T by 416.0% in the 4th quarter. Delphi Private Advisors LLC now owns 4,278 shares of the technology company’s stock worth $166,000 after acquiring an additional 3,449 shares during the period. Taylor Hoffman Wealth Management acquired a new stake in shares of AT&T in the 4th quarter worth $189,000. KCS Wealth Advisory acquired a new stake in shares of AT&T in the 4th quarter worth $201,000. Heritage Wealth Advisors acquired a new stake in shares of AT&T in the 4th quarter worth $204,000. Finally, Morse Asset Management Inc acquired a new stake in shares of AT&T in the 4th quarter worth $210,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

AT&T opened at $32.32 on Friday, MarketBeat reports. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.91. AT&T Inc. has a twelve month low of $31.17 and a twelve month high of $39.80. The stock has a market cap of $198.47 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 2.28 and a beta of 0.40.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 25th. The technology company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.02). AT&T had a net margin of 19.25% and a return on equity of 14.46%. The business had revenue of $38.04 billion for the quarter, compared to analysts’ expectations of $39.36 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business’s revenue was down 3.4% compared to the same quarter last year. research analysts forecast that AT&T Inc. will post 3.42 EPS for the current year.

Several research firms have recently commented on T. ValuEngine cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. SunTrust Banks raised their price objective on shares of AT&T from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, February 1st. Bank of America raised their price objective on shares of AT&T from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, Guggenheim started coverage on shares of AT&T in a research note on Tuesday, March 13th. They issued a “buy” rating and a $42.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $40.95.

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.

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

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply