44,656 Shares in AT&T Inc. (T) Acquired by B. Riley Wealth Management Inc.

B. Riley Wealth Management Inc. bought a new position in shares of AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 44,656 shares of the technology company’s stock, valued at approximately $1,500,000.

A number of other hedge funds have also bought and sold shares of the business. Chessman Wealth Strategies RIA acquired a new stake in shares of AT&T in the 3rd quarter valued at about $114,000. Stelac Advisory Services LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at about $121,000. Hoertkorn Richard Charles raised its stake in shares of AT&T by 66.7% in the 3rd quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock valued at $168,000 after purchasing an additional 2,000 shares during the period. Lenox Wealth Management Inc. raised its stake in shares of AT&T by 184.6% in the 3rd quarter. Lenox Wealth Management Inc. now owns 5,769 shares of the technology company’s stock valued at $194,000 after purchasing an additional 3,742 shares during the period. Finally, ELM Advisors LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at about $195,000. Hedge funds and other institutional investors own 63.35% of the company’s stock.

In other AT&T news, CEO John T. Stankey sold 3,748 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $29.84, for a total transaction of $111,840.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.07% of the stock is owned by insiders.

A number of analysts recently issued reports on the company. Cowen lifted their target price on AT&T from $34.00 to $36.00 in a research report on Sunday, December 9th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and set a $31.82 target price on the stock in a research report on Sunday, December 9th. ValuEngine raised AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Barclays set a $32.00 target price on AT&T and gave the company a “hold” rating in a research report on Friday, January 18th. Finally, Citigroup raised AT&T from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, December 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. AT&T currently has an average rating of “Buy” and an average price target of $35.71.

Shares of NYSE T opened at $30.51 on Thursday. The company has a market cap of $189.08 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 1.30 and a beta of 0.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.80 and a current ratio of 0.80. AT&T Inc. has a twelve month low of $26.80 and a twelve month high of $36.50.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. The firm had revenue of $47.99 billion for the quarter, compared to the consensus estimate of $48.50 billion. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, analysts anticipate that AT&T Inc. will post 3.6 earnings per share for the current fiscal year.

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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.

Further Reading: Dividend

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

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