AT&T Inc. (T) Shares Bought by Arete Wealth Advisors LLC
Arete Wealth Advisors LLC grew its position in AT&T Inc. (NYSE:T) by 20.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,986 shares of the technology company’s stock after purchasing an additional 2,745 shares during the period. Arete Wealth Advisors LLC’s holdings in AT&T were worth $603,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. purchased a new stake in shares of AT&T during the 1st quarter valued at about $101,000. Almanack Investment Partners LLC. purchased a new stake in shares of AT&T during the 1st quarter valued at about $109,000. Sterling Investment Advisors Ltd. raised its holdings in shares of AT&T by 289.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after buying an additional 2,024 shares during the period. CKW Financial Group raised its holdings in shares of AT&T by 83.9% during the 2nd quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock valued at $144,000 after buying an additional 1,724 shares during the period. Finally, Israel Discount Bank of New York raised its holdings in shares of AT&T by 0.6% during the 2nd quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock valued at $154,000 after buying an additional 25 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.
T has been the topic of several analyst reports. Macquarie reiterated a “buy” rating and set a $43.00 target price on shares of AT&T in a report on Friday, September 1st. Jefferies Group reiterated a “buy” rating and set a $48.00 target price on shares of AT&T in a report on Thursday, August 24th. Vetr downgraded AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 target price on the stock. in a report on Tuesday, September 26th. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, October 11th. Finally, Standpoint Research initiated coverage on AT&T in a report on Wednesday, November 8th. They set a “buy” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have issued a buy rating to the stock. AT&T presently has a consensus rating of “Hold” and a consensus target price of $42.81.
AT&T (NYSE:T) last posted its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The business had revenue of $39.67 billion for the quarter, compared to analysts’ expectations of $40.34 billion. AT&T’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. equities research analysts anticipate that AT&T Inc. will post 2.92 EPS for the current fiscal year.
In other news, Director Matthew K. Rose bought 29,600 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was bought at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the transaction, the director now owns 3,100 shares in the company, valued at $104,625. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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