B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund Invests $1.11 Million in AT&T Inc. (NYSE:T) Stock

B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new position in AT&T Inc. (NYSE:T) in the 4th quarter, HoldingsChannel reports. The firm acquired 33,134 shares of the technology company’s stock, valued at approximately $1,113,000.

A number of other institutional investors have also made changes to their positions in the stock. Janney Montgomery Scott LLC increased its stake in shares of AT&T by 7.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,572,840 shares of the technology company’s stock valued at $86,396,000 after acquiring an additional 183,165 shares during the last quarter. Resource Planning Group acquired a new position in shares of AT&T during the 3rd quarter valued at about $261,000. Becker Capital Management Inc. increased its stake in shares of AT&T by 2.1% during the 3rd quarter. Becker Capital Management Inc. now owns 1,697,996 shares of the technology company’s stock valued at $57,019,000 after acquiring an additional 35,450 shares during the last quarter. Gables Capital Management Inc. increased its stake in shares of AT&T by 4.0% during the 3rd quarter. Gables Capital Management Inc. now owns 69,499 shares of the technology company’s stock valued at $2,334,000 after acquiring an additional 2,692 shares during the last quarter. Finally, Wagner Wealth Management LLC increased its stake in shares of AT&T by 117.3% during the 3rd quarter. Wagner Wealth Management LLC now owns 60,615 shares of the technology company’s stock valued at $2,035,000 after acquiring an additional 32,726 shares during the last quarter. 53.02% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on T shares. ValuEngine raised shares of AT&T from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Desjardins reissued an “average” rating and set a $56.50 target price on shares of AT&T in a research report on Friday, April 5th. Finally, Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Friday, March 15th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.35.

NYSE T opened at $32.35 on Friday. The company has a market capitalization of $235.66 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 2.01 and a beta of 0.55. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $34.30. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.72 and a quick ratio of 0.72.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.86 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.86. The firm had revenue of $44.83 billion during the quarter, compared to analysts’ expectations of $45.20 billion. AT&T had a return on equity of 13.16% and a net margin of 10.59%. AT&T’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 3.58 earnings per share for the current fiscal year.

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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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