Tortoise Investment Management LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 28.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,716 shares of the company’s stock after buying an additional 1,477 shares during the period. Tortoise Investment Management LLC’s holdings in AT&T were worth $290,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. AMG National Trust Bank raised its position in AT&T by 1.4% in the second quarter. AMG National Trust Bank now owns 29,794 shares of the company’s stock worth $1,287,000 after buying an additional 420 shares in the last quarter. Navellier & Associates Inc raised its position in shares of AT&T by 97.1% in the second quarter. Navellier & Associates Inc now owns 262,473 shares of the company’s stock worth $11,341,000 after buying an additional 129,290 shares during the period. KBC Group NV raised its position in shares of AT&T by 9.9% in the second quarter. KBC Group NV now owns 1,494,861 shares of the company’s stock worth $64,593,000 after buying an additional 134,135 shares during the period. Swiss National Bank raised its position in shares of AT&T by 5.6% in the second quarter. Swiss National Bank now owns 19,937,858 shares of the company’s stock worth $861,515,000 after buying an additional 1,053,500 shares during the period. Finally, State Treasurer State of Michigan raised its position in shares of AT&T by 2.9% in the second quarter. State Treasurer State of Michigan now owns 2,717,283 shares of the company’s stock worth $117,414,000 after buying an additional 75,300 shares during the period. 53.64% of the stock is currently owned by institutional investors.

Shares of AT&T Inc. (NYSE:T) traded up 1.53% during mid-day trading on Wednesday, hitting $40.57. The stock had a trading volume of 19,129,570 shares. AT&T Inc. has a 1-year low of $31.85 and a 1-year high of $43.89. The stock’s 50-day moving average is $41.47 and its 200-day moving average is $40.35. The firm has a market capitalization of $249.59 billion, a PE ratio of 17.49 and a beta of 0.28.

AT&T (NYSE:T) last released its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The firm had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. Equities analysts expect that AT&T Inc. will post $2.86 earnings per share for the current year.

A number of brokerages recently issued reports on T. Jefferies Group reaffirmed a “buy” rating and set a $48.00 target price on shares of AT&T in a research report on Thursday, September 15th. Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $44.06 target price on the stock in a research report on Wednesday, September 7th. Pacific Crest reaffirmed a “hold” rating on shares of AT&T in a research report on Wednesday, September 7th. Argus reaffirmed a “buy” rating and set a $51.00 target price (up previously from $45.00) on shares of AT&T in a research report on Tuesday, July 26th. Finally, S&P Equity Research set a $46.00 target price on shares of AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the stock. AT&T currently has a consensus rating of “Buy” and an average target price of $41.59.

In other AT&T news, CEO John T. Stankey sold 2,131 shares of AT&T stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the transaction, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.07% of the stock is owned by company insiders.

AT&T Company Profile

AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.

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