AT&T Inc. (NYSE:T) Shares Purchased by Demars Financial Group LLC

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Demars Financial Group LLC raised its position in shares of AT&T Inc. (NYSE:T) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,893 shares of the technology company’s stock after buying an additional 1,045 shares during the quarter. Demars Financial Group LLC’s holdings in AT&T were worth $511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Newport Trust Co raised its stake in AT&T by 1.7% during the second quarter. Newport Trust Co now owns 200,968,541 shares of the technology company’s stock valued at $6,075,279,000 after buying an additional 3,397,127 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AT&T by 1.5% during the first quarter. Geode Capital Management LLC now owns 111,210,654 shares of the technology company’s stock valued at $3,235,792,000 after purchasing an additional 1,669,793 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of AT&T by 102.9% during the second quarter. Nordea Investment Management AB now owns 50,589,222 shares of the technology company’s stock valued at $1,504,524,000 after purchasing an additional 25,658,276 shares during the last quarter. Legal & General Group Plc grew its holdings in AT&T by 2.9% in the 1st quarter. Legal & General Group Plc now owns 47,477,604 shares of the technology company’s stock worth $1,385,953,000 after buying an additional 1,345,096 shares in the last quarter. Finally, Swiss National Bank grew its holdings in AT&T by 21.9% in the 1st quarter. Swiss National Bank now owns 30,672,737 shares of the technology company’s stock worth $894,110,000 after buying an additional 5,511,700 shares in the last quarter. Hedge funds and other institutional investors own 52.29% of the company’s stock.

Shares of NYSE:T traded up $0.12 during trading on Wednesday, reaching $29.24. The stock had a trading volume of 30,505,502 shares, compared to its average volume of 39,419,621. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $39.70. The business’s 50-day moving average price is $29.70 and its 200 day moving average price is $30.48. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $208.34 billion, a PE ratio of 17.94, a P/E/G ratio of 1.64 and a beta of 0.69.

AT&T (NYSE:T) last posted its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The company had revenue of $40.95 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. AT&T’s quarterly revenue was down 8.9% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 3.21 EPS for the current year.

In related news, Director Stephen J. Luczo purchased 100,000 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was acquired at an average price of $29.69 per share, with a total value of $2,969,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.

A number of equities research analysts have recently commented on T shares. Deutsche Bank cut their price objective on AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Royal Bank of Canada increased their target price on AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Oppenheimer reduced their target price on AT&T from $47.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Zacks Investment Research lowered AT&T from a “hold” rating to a “sell” rating and set a $33.00 price objective for the company. in a report on Wednesday, May 27th. Finally, Bank of America reiterated a “buy” rating and set a $36.00 price objective on shares of AT&T in a report on Friday, July 24th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.00.

AT&T Profile

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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