Community Bank of Raymore raised its holdings in shares of AT&T Inc. (NYSE:T) by 343.4% in the 2nd quarter, Holdings Channel reports. The firm owned 510,124 shares of the technology company’s stock after buying an additional 395,075 shares during the quarter. AT&T comprises 6.3% of Community Bank of Raymore’s portfolio, making the stock its 5th largest holding. Community Bank of Raymore’s holdings in AT&T were worth $16,380,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Earnest Partners LLC bought a new stake in shares of AT&T in the 4th quarter worth about $113,000. Braun Bostich & Associates Inc. purchased a new position in AT&T in the 1st quarter worth about $137,000. Elmwood Wealth Management Inc. purchased a new position in AT&T in the 1st quarter worth about $178,000. Cerebellum GP LLC purchased a new position in AT&T in the 2nd quarter worth about $178,000. Finally, Taylor Hoffman Wealth Management purchased a new position in AT&T in the 4th quarter worth about $189,000. Institutional investors and hedge funds own 64.70% of the company’s stock.
In other news, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of the stock in a transaction dated Wednesday, August 8th. The shares were acquired at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the acquisition, the director now owns 31,405 shares of the company’s stock, valued at $1,020,034.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew K. Rose purchased 65,500 shares of the stock in a transaction dated Thursday, July 26th. The stock was purchased at an average price of $30.51 per share, for a total transaction of $1,998,405.00. Following the completion of the acquisition, the director now directly owns 81,319 shares in the company, valued at approximately $2,481,042.69. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.
T has been the topic of several recent analyst reports. Macquarie reaffirmed a “buy” rating and issued a $40.00 price target on shares of AT&T in a research note on Wednesday, May 30th. ValuEngine downgraded shares of AT&T from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. Jefferies Financial Group downgraded shares of AT&T from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.80 to $31.17 in a research note on Thursday, June 7th. Moffett Nathanson downgraded shares of AT&T from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $35.00 to $28.00 in a research note on Wednesday, June 13th. Finally, UBS Group raised shares of AT&T from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. AT&T currently has an average rating of “Hold” and a consensus target price of $38.21.
NYSE T opened at $32.18 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.92. The stock has a market cap of $196.08 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 2.53 and a beta of 0.40. AT&T Inc. has a one year low of $30.13 and a one year high of $39.80.
AT&T (NYSE:T) last posted its earnings results on Tuesday, July 24th. The technology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $38.99 billion for the quarter, compared to the consensus estimate of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. equities research analysts expect that AT&T Inc. will post 3.54 EPS for the current year.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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