World Asset Management Inc lessened its stake in AT&T Inc. (NYSE:T) by 7.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 537,613 shares of the technology company’s stock after selling 42,754 shares during the quarter. AT&T makes up approximately 0.7% of World Asset Management Inc’s investment portfolio, making the stock its 15th largest position. World Asset Management Inc’s holdings in AT&T were worth $20,902,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sfmg LLC raised its stake in AT&T by 58.5% in the 3rd quarter. Sfmg LLC now owns 48,102 shares of the technology company’s stock valued at $1,884,000 after acquiring an additional 17,748 shares during the period. Moors & Cabot Inc. increased its position in AT&T by 11.3% during the 2nd quarter. Moors & Cabot Inc. now owns 247,888 shares of the technology company’s stock worth $9,373,000 after buying an additional 25,167 shares during the period. Barbara Oil Co. increased its position in AT&T by 50.0% during the 2nd quarter. Barbara Oil Co. now owns 15,000 shares of the technology company’s stock worth $566,000 after buying an additional 5,000 shares during the period. Marshall Wace North America L.P. bought a new position in AT&T during the 2nd quarter worth $3,502,000. Finally, Curbstone Financial Management Corp increased its position in AT&T by 93.6% during the 3rd quarter. Curbstone Financial Management Corp now owns 65,208 shares of the technology company’s stock worth $2,554,000 after buying an additional 31,521 shares during the period. 55.92% of the stock is owned by institutional investors.
Several research firms have weighed in on T. ValuEngine cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. SunTrust Banks increased their price objective on AT&T from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, February 1st. KeyCorp increased their price objective on AT&T from $35.00 to $38.00 and gave the stock a “sector weight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Vetr cut AT&T from a “buy” rating to a “hold” rating and set a $39.75 price objective on the stock. in a research report on Monday, December 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the stock. AT&T presently has a consensus rating of “Hold” and an average price target of $41.83.
AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.13. The company had revenue of $41.68 billion for the quarter, compared to analysts’ expectations of $41.21 billion. AT&T had a return on equity of 14.55% and a net margin of 18.34%. AT&T’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.66 earnings per share. research analysts anticipate that AT&T Inc. will post 3.48 earnings per share for the current year.
In other AT&T news, Director Richard W. Fisher acquired 2,600 shares of AT&T stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average cost of $38.10 per share, with a total value of $99,060.00. Following the completion of the purchase, the director now directly owns 2,600 shares of the company’s stock, valued at approximately $99,060. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Donovan acquired 27,997 shares of AT&T stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $35.68 per share, for a total transaction of $998,932.96. Following the completion of the purchase, the chief executive officer now directly owns 179,834 shares of the company’s stock, valued at $6,416,477.12. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.
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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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