Hallmark Capital Management Inc. grew its holdings in AT&T Inc. (NYSE:T) by 10.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,853 shares of the technology company’s stock after purchasing an additional 9,084 shares during the period. Hallmark Capital Management Inc.’s holdings in AT&T were worth $3,179,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Horan Securities Inc. raised its position 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 stake in AT&T in the 2nd quarter valued at $39,000. Contravisory Investment Management Inc. raised its position in AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after buying an additional 338 shares during the last quarter. Smart Portfolios LLC raised its position in AT&T by 44.8% in the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock valued at $46,000 after buying an additional 500 shares during the last quarter. Finally, Centaurus Financial Inc. raised its position in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after buying an additional 333 shares during the last quarter. 53.14% of the stock is owned by institutional investors and hedge funds.
In other news, CEO John T. Stankey sold 4,024 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.
T stock traded down $0.38 during midday trading on Friday, hitting $38.00. 5,318,022 shares of the company’s stock were exchanged, compared to its average volume of 29,901,382. The stock has a market capitalization of $274.60 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.62. The firm has a 50 day moving average price of $34.91 and a 200-day moving average price of $32.57. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $38.75.
AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.89. The business had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 3.57 EPS for the current fiscal year.
A number of research firms recently commented on T. Oppenheimer set a $41.00 price target on AT&T and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley set a $37.00 price objective on AT&T and gave the company a “buy” rating in a research note on Tuesday. Desjardins restated an “average” rating and issued a $55.50 price objective on shares of AT&T in a research note on Tuesday, August 6th. Cowen set a $40.00 price objective on AT&T and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Barclays upped their price objective on AT&T from $31.00 to $35.00 and gave the company 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 company. The stock presently has a consensus rating of “Buy” and an average price target 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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