MBB Public Markets I LLC Acquires New Shares in AT&T Inc. (NYSE:T)

MBB Public Markets I LLC acquired a new stake in AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 514,702 shares of the technology company’s stock, valued at approximately $9,836,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Davidson Kempner Capital Management LP bought a new position in AT&T in the second quarter worth about $23,888,000. DRW Securities LLC increased its holdings in shares of AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after acquiring an additional 90,255 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after acquiring an additional 43,062 shares in the last quarter. M&G Plc acquired a new position in shares of AT&T during the first quarter valued at about $9,074,000. Finally, Caxton Associates LP increased its holdings in shares of AT&T by 4,115.6% during the second quarter. Caxton Associates LP now owns 2,151,025 shares of the technology company’s stock valued at $41,106,000 after acquiring an additional 2,100,000 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

NYSE T opened at $21.66 on Friday. The stock has a market cap of $155.31 billion, a PE ratio of 11.65, a P/E/G ratio of 3.66 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The stock has a fifty day simple moving average of $20.04 and a 200-day simple moving average of $18.44.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the business posted $0.63 EPS. The company’s revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group reiterated a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Royal Bank of Canada upped their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Evercore ISI upped their price objective on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Hold” and an average target price of $22.31.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.