51,441 Shares in AT&T Inc. (NYSE:T) Acquired by Smith Thornton Advisors LLC

Smith Thornton Advisors LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,441 shares of the technology company’s stock, valued at approximately $983,000.

Other large investors also recently made changes to their positions in the company. Frank Rimerman Advisors LLC purchased a new stake in AT&T in the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter valued at $25,000. Strategic Financial Concepts LLC increased its holdings in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. Finally, American Capital Advisory LLC boosted its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $21.66 on Friday. The company has a market capitalization of $155.31 billion, a P/E ratio of 11.65, a PEG ratio of 3.66 and a beta of 0.59. The company has a 50-day moving average of $20.09 and a 200-day moving average of $18.46. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the company earned $0.63 earnings per share. AT&T’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Evercore ISI increased their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, AT&T currently has a consensus rating of “Hold” and an average price target 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.