Jeppson Wealth Management LLC Has $332,000 Stock Position in American Tower Co. (NYSE:AMT)

Jeppson Wealth Management LLC increased its stake in American Tower Co. (NYSE:AMT) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,710 shares of the real estate investment trust’s stock after buying an additional 75 shares during the quarter. Jeppson Wealth Management LLC’s holdings in American Tower were worth $332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 1st quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in American Tower during the second quarter worth approximately $25,000. Gold Investment Management Ltd. bought a new stake in American Tower in the fourth quarter valued at approximately $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of American Tower in the second quarter valued at approximately $29,000. Finally, SOA Wealth Advisors LLC. bought a new position in shares of American Tower during the 1st quarter worth approximately $30,000. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

NYSE AMT traded down $0.01 on Friday, hitting $233.63. 33,326 shares of the company’s stock were exchanged, compared to its average volume of 2,309,876. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $236.13. The stock has a 50-day moving average of $215.72 and a 200-day moving average of $198.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock has a market cap of $109.10 billion, a price-to-earnings ratio of 52.86, a P/E/G ratio of 1.51 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 earnings per share. Analysts expect that American Tower Co. will post 10.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last three months. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. TD Cowen boosted their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Barclays reduced their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, Scotiabank raised their price target on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.14.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.