Welch Group LLC lifted its stake in AT&T Inc. (NYSE:T – Get Rating) by 32.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 265,771 shares of the technology company's stock after buying an additional 64,626 shares during the quarter. Welch Group LLC's holdings in AT&T were worth $5,571,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of T. Vanguard Group Inc. boosted its holdings in shares of AT&T by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 585,666,367 shares of the technology company's stock valued at $13,839,297,000 after buying an additional 13,066,523 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of AT&T by 1.1% in the 1st quarter. BlackRock Inc. now owns 521,448,502 shares of the technology company's stock valued at $12,321,826,000 after buying an additional 5,777,961 shares in the last quarter. Newport Trust Co boosted its holdings in shares of AT&T by 1.9% in the 1st quarter. Newport Trust Co now owns 197,426,152 shares of the technology company's stock valued at $4,665,180,000 after buying an additional 3,722,782 shares in the last quarter. Norges Bank bought a new stake in shares of AT&T in the 4th quarter valued at about $1,740,054,000. Finally, Capital World Investors boosted its holdings in shares of AT&T by 18.5% in the 1st quarter. Capital World Investors now owns 55,989,998 shares of the technology company's stock valued at $1,323,044,000 after buying an additional 8,729,013 shares in the last quarter. Hedge funds and other institutional investors own 52.88% of the company's stock.
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Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of AT&T to $22.00 in a research report on Friday, July 22nd. Raymond James reissued an "outperform" rating and set a $26.00 price target on shares of AT&T in a research report on Thursday, July 7th. Cowen dropped their price objective on shares of AT&T from $27.00 to $24.00 and set a "market perform" rating on the stock in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Finally, Truist Financial dropped their price target on shares of AT&T to $21.00 in a research note on Friday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.29.
AT&T Price Performance
Shares of NYSE T opened at $15.64 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.70 and a quick ratio of 0.64. The stock has a fifty day moving average price of $17.55 and a 200 day moving average price of $19.78. AT&T Inc. has a 1-year low of $15.41 and a 1-year high of $21.53. The company has a market cap of $111.45 billion, a PE ratio of 5.71, a P/E/G ratio of 1.86 and a beta of 0.48.
AT&T (NYSE:T – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. The business had revenue of $29.64 billion during the quarter, compared to the consensus estimate of $29.48 billion. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The business's revenue was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.54 EPS for the current year.
AT&T Profile
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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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