South Texas Money Management Ltd. reduced its stake in shares of AT&T Inc. (NYSE:T) by 94.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,884 shares of the technology company’s stock after selling 812,976 shares during the quarter. South Texas Money Management Ltd.’s holdings in AT&T were worth $1,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Guardian Investment Management grew its stake in shares of AT&T by 8.4% in the 2nd quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock valued at $4,598,000 after buying an additional 11,054 shares in the last quarter. Ironsides Asset Advisors LLC lifted its holdings in AT&T by 450.8% in the 2nd quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock worth $1,735,000 after purchasing an additional 44,231 shares during the last quarter. Whittier Trust Co. lifted its holdings in AT&T by 9.5% in the 2nd quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock worth $14,859,000 after purchasing an additional 40,293 shares during the last quarter. BP PLC lifted its holdings in AT&T by 30.5% in the 2nd quarter. BP PLC now owns 914,826 shares of the technology company’s stock worth $29,375,000 after purchasing an additional 213,826 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in AT&T by 14.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock worth $1,622,000 after purchasing an additional 6,247 shares during the last quarter. Institutional investors and hedge funds own 63.61% of the company’s stock.

NYSE:T traded down $0.39 during mid-day trading on Friday, hitting $30.14. The company had a trading volume of 34,449,754 shares, compared to its average volume of 32,904,400. AT&T Inc. has a fifty-two week low of $28.85 and a fifty-two week high of $39.33. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $187.42 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.68 and a beta of 0.44.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.04). The company had revenue of $45.74 billion during the quarter, compared to analyst estimates of $45.73 billion. AT&T had a net margin of 20.40% and a return on equity of 13.61%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Sell-side analysts predict that AT&T Inc. will post 3.51 earnings per share for the current year.

A number of research analysts have recently commented on the company. Argus reiterated a “buy” rating and set a $48.00 price target on shares of AT&T in a report on Friday, October 26th. Cowen upgraded AT&T from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $36.00 in a report on Monday, December 3rd. Deutsche Bank upped their price target on AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, September 24th. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and upped their price target for the stock from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Finally, Bank of America reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T currently has a consensus rating of “Hold” and a consensus price target of $36.42.

In other news, Director Michael B. Mccallister acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average cost of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the acquisition, the director now owns 7,361 shares in the company, valued at $214,499.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

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AT&T 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.

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

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