Regal Wealth Group Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,859 shares of the technology company’s stock after selling 147 shares during the period. Regal Wealth Group Inc.’s holdings in AT&T were worth $297,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC bought a new position in shares of AT&T during the second quarter valued at about $65,056,000. State of Wisconsin Investment Board raised its stake in shares of AT&T by 22.8% during the second quarter. State of Wisconsin Investment Board now owns 7,432,813 shares of the technology company’s stock valued at $280,440,000 after acquiring an additional 1,380,930 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of AT&T by 7.1% during the second quarter. APG Asset Management N.V. now owns 16,917,935 shares of the technology company’s stock valued at $638,314,000 after acquiring an additional 1,117,300 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of AT&T during the first quarter valued at about $42,198,000. Finally, Schwab Charles Investment Management Inc. raised its stake in AT&T by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 23,368,641 shares of the technology company’s stock worth $881,699,000 after buying an additional 1,011,014 shares in the last quarter. Institutional investors and hedge funds own 55.86% of the company’s stock.
In other news, Director Matthew K. Rose purchased 29,600 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were purchased at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the completion of the acquisition, the director now directly owns 3,100 shares in the company, valued at approximately $104,625. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.
AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion during the quarter, compared to analysts’ expectations of $40.34 billion. AT&T had a return on equity of 14.49% and a net margin of 8.00%. AT&T’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. sell-side analysts forecast that AT&T Inc. will post 2.92 EPS for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Vetr downgraded shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $44.24 price target for the company. in a research note on Friday, October 6th. Morgan Stanley increased their price target on shares of AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 27th. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Wednesday, October 11th. Robert W. Baird reissued an “outperform” rating and issued a $43.00 price target on shares of AT&T in a research note on Thursday, September 21st. Finally, KeyCorp reissued a “hold” rating on shares of AT&T in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.81.
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AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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