AT&T Inc. (NYSE:T) Shares Bought by Profund Advisors LLC
Profund Advisors LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 38.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,127 shares of the technology company’s stock after buying an additional 31,610 shares during the quarter. Profund Advisors LLC’s holdings in AT&T were worth $3,824,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. grew its holdings in shares of AT&T by 63.2% in the second quarter. Bank of Nova Scotia Trust Co. now owns 10,935 shares of the technology company’s stock valued at $367,000 after purchasing an additional 4,235 shares during the period. FCA Corp TX purchased a new stake in shares of AT&T in the second quarter valued at about $213,000. Scotia Capital Inc. grew its holdings in shares of AT&T by 9.2% in the second quarter. Scotia Capital Inc. now owns 1,157,418 shares of the technology company’s stock valued at $38,789,000 after purchasing an additional 97,402 shares during the period. Signet Financial Management LLC grew its holdings in shares of AT&T by 28.9% in the second quarter. Signet Financial Management LLC now owns 50,770 shares of the technology company’s stock valued at $1,734,000 after purchasing an additional 11,378 shares during the period. Finally, Eagle Global Advisors LLC purchased a new stake in shares of AT&T in the second quarter valued at about $202,000. 53.14% of the stock is owned by institutional investors and hedge funds.
In related news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total value of $137,419.60. Following the transaction, the chief executive officer now directly 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 is accessible through this link. Company insiders own 0.07% of the company’s stock.
AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates 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 last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 3.57 EPS for the current fiscal year.
A number of brokerages recently issued reports on T. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a report on Tuesday. Citigroup upped their price objective on shares of AT&T from $37.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Desjardins reissued an “average” rating and issued a $55.50 price objective on shares of AT&T in a report on Tuesday, August 6th. ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Barclays increased their target price on shares of AT&T from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Tuesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. AT&T has a consensus rating of “Buy” and an average target price of $38.03.
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.
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