AdvisorNet Financial Inc Has $774,000 Position in AT&T Inc. $T

AdvisorNet Financial Inc raised its position in shares of AT&T Inc. (NYSE:T) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,743 shares of the technology company’s stock after purchasing an additional 3,130 shares during the quarter. AdvisorNet Financial Inc’s holdings in AT&T were worth $774,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capstone Wealth Management LLC acquired a new stake in AT&T during the 1st quarter valued at $201,000. Wedmont Private Capital raised its stake in AT&T by 7.9% during the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock valued at $3,302,000 after purchasing an additional 9,027 shares during the period. Xponance Inc. raised its stake in AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after purchasing an additional 102,419 shares during the period. NBT Bank N A NY raised its stake in AT&T by 7.5% during the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock valued at $3,660,000 after purchasing an additional 8,989 shares during the period. Finally, Park Edge Advisors LLC acquired a new position in shares of AT&T in the first quarter worth $1,000,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 0.5%

T stock opened at $28.78 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company has a 50-day moving average of $28.52 and a two-hundred day moving average of $27.85. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The stock has a market capitalization of $205.75 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 3.58 and a beta of 0.44.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on T. Bank of America began coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Sanford C. Bernstein upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.74.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.