Sontag Advisory LLC boosted its holdings in AT&T Inc. (NYSE:T) by 248.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 184,231 shares of the technology company’s stock after purchasing an additional 131,418 shares during the quarter. Sontag Advisory LLC’s holdings in AT&T were worth $5,370,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in AT&T by 39.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,496,810 shares of the technology company’s stock worth $58,495,000 after purchasing an additional 422,207 shares in the last quarter. Bank OZK increased its holdings in AT&T by 5.7% in the fourth quarter. Bank OZK now owns 191,940 shares of the technology company’s stock worth $7,501,000 after purchasing an additional 10,327 shares in the last quarter. Capital Financial Planning LLC increased its holdings in AT&T by 22.5% in the fourth quarter. Capital Financial Planning LLC now owns 11,675 shares of the technology company’s stock worth $456,000 after purchasing an additional 2,141 shares in the last quarter. Bell Bank increased its holdings in AT&T by 25.6% in the fourth quarter. Bell Bank now owns 110,883 shares of the technology company’s stock worth $4,333,000 after purchasing an additional 22,606 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of AT&T during the fourth quarter valued at approximately $24,341,000. Institutional investors and hedge funds own 53.84% of the company’s stock.
T has been the subject of several recent research reports. Guggenheim decreased their price objective on AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Oppenheimer initiated coverage on AT&T in a research report on Wednesday, April 22nd. They set a “buy” rating and a $47.00 target price on the stock. Bank of America cut their target price on AT&T from $43.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Zacks Investment Research cut AT&T from a “hold” rating to a “sell” rating and set a $33.00 target price on the stock. in a research report on Wednesday, May 27th. Finally, ValuEngine cut AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $36.02.
AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). AT&T had a net margin of 8.05% and a return on equity of 13.27%. The company had revenue of $42.78 billion for the quarter, compared to the consensus estimate of $44.75 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 3.29 earnings per share for the current fiscal year.
In other AT&T news, Director Geoffrey Y. Yang bought 6,754 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were acquired at an average cost of $29.39 per share, for a total transaction of $198,500.06. Following the purchase, the director now directly owns 9,398 shares of the company’s stock, valued at $276,207.22. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen J. Luczo bought 36,000 shares of the firm’s stock in a transaction on 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.
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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