Allstate Corp Raises Stake in AT&T Inc. (T)

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Allstate Corp raised its holdings in shares of AT&T Inc. (NYSE:T) by 33.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,739 shares of the technology company’s stock after acquiring an additional 1,923 shares during the quarter. Allstate Corp’s holdings in AT&T were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. SSI Investment Management Inc. lifted its holdings in AT&T by 10.0% during the 2nd quarter. SSI Investment Management Inc. now owns 17,160 shares of the technology company’s stock valued at $549,000 after purchasing an additional 1,553 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in AT&T by 1.7% during the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 95,276 shares of the technology company’s stock valued at $3,059,000 after purchasing an additional 1,553 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in AT&T by 27.0% during the 2nd quarter. Tradewinds Capital Management LLC now owns 7,332 shares of the technology company’s stock valued at $235,000 after purchasing an additional 1,560 shares during the last quarter. Endurance Wealth Management Inc. lifted its holdings in AT&T by 7.5% during the 2nd quarter. Endurance Wealth Management Inc. now owns 22,644 shares of the technology company’s stock valued at $728,000 after purchasing an additional 1,572 shares during the last quarter. Finally, Wagner Bowman Management Corp lifted its holdings in AT&T by 3.3% during the 2nd quarter. Wagner Bowman Management Corp now owns 49,723 shares of the technology company’s stock valued at $1,596,000 after purchasing an additional 1,573 shares during the last quarter. 63.61% of the stock is owned by institutional investors.

T opened at $30.14 on Friday. AT&T Inc. has a fifty-two week low of $28.85 and a fifty-two week high of $39.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $188.65 billion, a PE ratio of 9.88, a PEG ratio of 1.69 and a beta of 0.44.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). AT&T had a return on equity of 13.61% and a net margin of 20.40%. The firm had revenue of $45.74 billion for the quarter, compared to analyst estimates of $45.73 billion. During the same period in the prior year, the business posted $0.74 EPS. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 3.51 EPS for the current year.

In other news, Director Michael B. Mccallister bought 4,000 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $29.14 per share, with a total value of $116,560.00. Following the completion of the acquisition, the director now owns 7,361 shares of the company’s stock, valued at $214,499.54. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

T has been the subject of several research reports. Wells Fargo & Co downgraded AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 price target for the company. in a report on Wednesday, August 22nd. Bank of America reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. Macquarie reaffirmed a “buy” rating and set a $35.00 price target on shares of AT&T in a report on Wednesday, September 12th. ValuEngine raised AT&T from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, UBS Group raised AT&T from a “neutral” rating to a “buy” rating and raised their price target for the company from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $36.42.

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AT&T Company Profile

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

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