TCG Advisors LP Acquires 3,464 Shares of AT&T Inc. (NYSE:T)

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TCG Advisors LP raised its holdings in shares of AT&T Inc. (NYSE:T) by 21.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,387 shares of the technology company’s stock after purchasing an additional 3,464 shares during the quarter. TCG Advisors LP’s holdings in AT&T were worth $565,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of AT&T by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 109,540,861 shares of the technology company’s stock worth $4,272,292,000 after acquiring an additional 4,091,166 shares in the last quarter. Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth $2,928,300,000. Nuveen Asset Management LLC grew its stake in shares of AT&T by 18.4% in the 4th quarter. Nuveen Asset Management LLC now owns 53,216,205 shares of the technology company’s stock worth $2,079,689,000 after acquiring an additional 8,261,619 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of AT&T by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 35,878,744 shares of the technology company’s stock worth $1,402,142,000 after acquiring an additional 324,493 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of AT&T by 7.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,960,127 shares of the technology company’s stock worth $886,887,000 after acquiring an additional 2,046,164 shares in the last quarter. Institutional investors and hedge funds own 53.84% of the company’s stock.

Several research firms recently weighed in on T. Credit Suisse Group reduced their price target 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. Nomura reduced their price target 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. Cfra reduced their price target on shares of AT&T from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Raymond James lowered shares of AT&T from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Finally, Nomura Securities reduced their price target on shares of AT&T from $44.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $36.02.

Shares of AT&T stock traded up $0.10 on Monday, reaching $30.96. The stock had a trading volume of 17,865,835 shares, compared to its average volume of 34,408,444. AT&T Inc. has a 1 year low of $26.08 and a 1 year high of $39.70. The company has a market cap of $222.55 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.70 and a beta of 0.72. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $29.95 and its two-hundred day moving average is $35.04.

AT&T (NYSE:T) last announced its quarterly earnings results 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). The firm had revenue of $42.78 billion during the quarter, compared to analysts’ expectations of $44.75 billion. AT&T had a return on equity of 13.27% and a net margin of 8.05%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. On average, equities analysts anticipate that AT&T Inc. will post 3.29 EPS for the current fiscal year.

In related news, Director Stephen J. Luczo bought 36,000 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The shares were acquired at an average cost of $29.38 per share, with a total value of $1,057,680.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Geoffrey Y. Yang bought 6,754 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was bought at an average cost of $29.39 per share, for a total transaction of $198,500.06. Following the completion of the purchase, the director now directly owns 9,398 shares of the company’s stock, valued at $276,207.22. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.

About AT&T

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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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