Ahrens Investment Partners LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 18.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,165 shares of the technology company’s stock after selling 11,210 shares during the quarter. Ahrens Investment Partners LLC’s holdings in AT&T were worth $1,643,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price Wealth Management Inc. increased its holdings in AT&T by 165.1% during the 2nd quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock worth $106,000 after purchasing an additional 2,064 shares during the period. CKW Financial Group increased its holdings in shares of AT&T by 105.0% in the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after acquiring an additional 2,159 shares during the period. Braun Bostich & Associates Inc. purchased a new position in shares of AT&T in the 1st quarter valued at $137,000. Cerebellum GP LLC purchased a new position in shares of AT&T in the 2nd quarter valued at $178,000. Finally, Bristol John W & Co. Inc. NY purchased a new position in shares of AT&T in the 1st quarter valued at $201,000. Institutional investors own 63.84% of the company’s stock.
In other news, Director Michael B. Mccallister purchased 4,000 shares of the stock in a transaction on Friday, October 26th. The stock was bought at an average price of $29.14 per share, with a total value of $116,560.00. Following the transaction, the director now owns 7,361 shares in the company, valued at approximately $214,499.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.
AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). The business had revenue of $45.74 billion during the quarter, compared to analyst estimates of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. As a group, equities research analysts expect that AT&T Inc. will post 3.51 EPS for the current fiscal year.
T has been the topic of a number of analyst reports. Wells Fargo & Co downgraded AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 price target on the stock. in a report on Wednesday, August 22nd. Bank of America reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. Macquarie reiterated a “buy” rating and issued a $35.00 price target on shares of AT&T in a report on Wednesday, September 12th. ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and lifted their price target for the company from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $36.35.
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.
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