Moneta Group Investment Advisors LLC Lowers Stock Position in AT&T Inc. (NYSE:T)

Moneta Group Investment Advisors LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 97.3% during the second quarter, Holdings Channel.com reports. The firm owned 1,494 shares of the technology company’s stock after selling 53,767 shares during the period. Moneta Group Investment Advisors LLC’s holdings in AT&T were worth $1,425,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Horan Securities Inc. lifted its holdings in shares of AT&T by 439.2% during the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares during the period. Next Capital Management LLC purchased a new position in AT&T during the 2nd quarter worth approximately $39,000. Contravisory Investment Management Inc. raised its position in AT&T by 36.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after buying an additional 338 shares during the last quarter. Smart Portfolios LLC raised its position in AT&T by 44.8% during the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after buying an additional 500 shares during the last quarter. Finally, Centaurus Financial Inc. lifted its stake in AT&T by 24.4% during the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after acquiring an additional 333 shares during the period. Institutional investors own 53.14% of the company’s stock.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the sale, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

T has been the topic of several recent research reports. Raymond James upped their price objective on shares of AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. ValuEngine cut shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a research report on Thursday, July 25th. Morgan Stanley reaffirmed a “buy” rating and issued a $37.00 price target on shares of AT&T in a report on Thursday, August 1st. Finally, Desjardins reaffirmed an “average” rating and set a $55.50 price target on shares of AT&T in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.21.

NYSE T traded up $0.90 during mid-day trading on Wednesday, hitting $38.48. The stock had a trading volume of 40,132,289 shares, compared to its average volume of 29,080,348. The firm’s 50 day moving average is $34.78 and its 200 day moving average is $32.53. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $268.82 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 2.33 and a beta of 0.62. AT&T Inc. has a twelve month low of $26.80 and a twelve month high of $38.14.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The company had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts expect that AT&T Inc. will post 3.57 earnings per share for the current year.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

Recommended Story: How to calculate compound interest

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.