Accredited Investors Inc. grew its holdings in shares of AT&T Inc. (NYSE:T) by 25.4% in the 4th quarter, Holdings Channel reports. The fund owned 16,155 shares of the technology company’s stock after purchasing an additional 3,272 shares during the period. Accredited Investors Inc.’s holdings in AT&T were worth $461,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. NuWave Investment Management LLC bought a new position in AT&T during the fourth quarter worth $40,000. WealthTrust Arizona LLC raised its stake in AT&T by 76.2% during the fourth quarter. WealthTrust Arizona LLC now owns 1,427 shares of the technology company’s stock worth $41,000 after buying an additional 617 shares during the last quarter. Smart Portfolios LLC raised its stake in AT&T by 44.8% during the fourth quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after buying an additional 500 shares during the last quarter. Cranbrook Wealth Management LLC raised its stake in AT&T by 76.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 1,596 shares of the technology company’s stock worth $46,000 after buying an additional 691 shares during the last quarter. Finally, Mackey Komara & Dankovich LLC bought a new position in AT&T during the fourth quarter worth $76,000. 53.02% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the stock. ValuEngine upgraded shares of AT&T from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Desjardins restated an “average” rating and issued a $56.50 price target on shares of AT&T in a report on Friday, April 5th. Finally, Raymond James upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Friday, March 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $36.60.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.86. The firm had revenue of $44.83 billion during the quarter, compared to analysts’ expectations of $45.20 billion. AT&T had a net margin of 10.59% and a return on equity of 13.16%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. As a group, research analysts anticipate that AT&T Inc. will post 3.59 EPS 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.
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