AT&T Inc. (T) Stake Boosted by RKL Wealth Management LLC
RKL Wealth Management LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 14.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,200 shares of the technology company’s stock after purchasing an additional 7,918 shares during the quarter. RKL Wealth Management LLC’s holdings in AT&T were worth $2,317,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ullmann Financial Group Inc. bought a new stake in AT&T in the 1st quarter valued at $101,000. Almanack Investment Partners LLC. bought a new stake in AT&T in the 1st quarter valued at $109,000. Sterling Investment Advisors Ltd. lifted its position in AT&T by 289.1% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after acquiring an additional 2,024 shares in the last quarter. CKW Financial Group lifted its position in AT&T by 83.9% in the 2nd quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock valued at $144,000 after acquiring an additional 1,724 shares in the last quarter. Finally, Israel Discount Bank of New York lifted its position in AT&T by 0.6% in 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 acquiring an additional 25 shares in the last quarter. 55.86% of the stock is currently owned by institutional investors.
Shares of AT&T Inc. (NYSE:T) traded up $0.56 on Friday, reaching $36.73. 25,299,789 shares of the company were exchanged, compared to its average volume of 32,684,182. AT&T Inc. has a twelve month low of $32.55 and a twelve month high of $43.03. The firm has a market cap of $225,485.47, a price-to-earnings ratio of 12.54, a P/E/G ratio of 3.05 and a beta of 0.44. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.60 and a current ratio of 1.60.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The company had revenue of $39.67 billion during the quarter, compared to analyst estimates of $40.34 billion. During the same quarter last year, the company posted $0.74 EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. analysts anticipate that AT&T Inc. will post 2.92 earnings per share for the current year.
Several equities research analysts have commented on T shares. Jefferies Group reissued a “buy” rating and set a $36.38 price target (down from $48.00) on shares of AT&T in a research report on Friday, December 1st. Vetr cut shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $39.67 price target on the stock. in a research report on Wednesday, November 29th. Nomura cut their price target on shares of AT&T to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, November 21st. Canaccord Genuity reissued a “buy” rating and set a $51.00 price target on shares of AT&T in a research report on Friday, November 10th. Finally, Citigroup boosted their price target on shares of AT&T from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $42.81.
In related news, Director Matthew K. Rose purchased 29,600 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the purchase, the director now owns 3,100 shares in the company, valued at $104,625. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.
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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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