Cranbrook Wealth Management LLC Increases Stock Holdings in AT&T Inc. $T

Cranbrook Wealth Management LLC boosted its stake in AT&T Inc. (NYSE:T) by 22.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,340 shares of the technology company’s stock after acquiring an additional 978 shares during the period. Cranbrook Wealth Management LLC’s holdings in AT&T were worth $155,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in T. David J Yvars Group lifted its holdings in AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after buying an additional 372 shares during the period. AllSquare Wealth Management LLC raised its position in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after acquiring an additional 378 shares in the last quarter. Next Level Private LLC lifted its stake in shares of AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after purchasing an additional 379 shares during the period. Barnes Wealth Management Group Inc boosted its position in shares of AT&T by 2.6% during the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after purchasing an additional 380 shares in the last quarter. Finally, Kozak & Associates Inc. boosted its position in shares of AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after purchasing an additional 398 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of T stock opened at $28.78 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm has a market capitalization of $205.75 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 3.58 and a beta of 0.44. The stock’s 50-day simple moving average is $28.52 and its 200-day simple moving average is $27.85.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on T. Scotiabank raised their price objective on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. Bank of America assumed coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price for the company. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. One 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.74.

AT&T Profile

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.