1832 Asset Management L.P. Has $20.59 Million Stock Holdings in AT&T Inc. (NYSE:T)
1832 Asset Management L.P. lessened its stake in AT&T Inc. (NYSE:T) by 68.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 677,805 shares of the technology company’s stock after selling 1,439,823 shares during the quarter. 1832 Asset Management L.P.’s holdings in AT&T were worth $20,585,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Lion Street Advisors LLC bought a new stake in shares of AT&T during the 1st quarter worth $27,000. Horan Securities Inc. acquired a new position in shares of AT&T in the 1st quarter valued at $28,000. CBIZ Investment Advisory Services LLC raised its stake in shares of AT&T by 186.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock valued at $28,000 after buying an additional 623 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of AT&T during the 1st quarter worth about $34,000. Finally, Efficient Wealth Management LLC acquired a new stake in shares of AT&T during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 53.84% of the company’s stock.
AT&T stock traded down $0.35 during midday trading on Friday, hitting $29.37. 8,501,324 shares of the stock were exchanged, compared to its average volume of 38,639,480. The company has a fifty day simple moving average of $30.33 and a two-hundred day simple moving average of $34.07. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $39.70. The stock has a market capitalization of $213.48 billion, a PE ratio of 14.97, a P/E/G ratio of 1.66 and a beta of 0.71. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.75.
In other AT&T news, Director Geoffrey Y. Yang acquired 6,754 shares of the stock in a transaction dated Friday, April 24th. The shares were bought at an average cost of $29.39 per share, for a total transaction of $198,500.06. Following the completion of the acquisition, the director now directly owns 9,398 shares of the company’s stock, valued at $276,207.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen J. Luczo acquired 36,000 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was acquired at an average price of $29.38 per share, for a total transaction of $1,057,680.00. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.
T has been the subject of a number of recent analyst reports. Credit Suisse Group dropped their target price on shares of AT&T from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. ValuEngine cut shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Bank of America dropped their target price on shares of AT&T from $43.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Raymond James cut shares of AT&T from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Finally, Nomura lowered their price objective on shares of AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $36.02.
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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