AT&T Inc. (NYSE:T) Shares Sold by Eagle Bay Advisors LLC

Posted by on Mar 17th, 2023

Eagle Bay Advisors LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T – Get Rating) by 70.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,038 shares of the technology company’s stock after selling 4,778 shares during the period. Eagle Bay Advisors LLC’s holdings in AT&T were worth $31,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Continental Investors Services Inc. acquired a new position in shares of AT&T during the third quarter worth about $279,000. CVA Family Office LLC lifted its position in AT&T by 21.5% during the 3rd quarter. CVA Family Office LLC now owns 41,322 shares of the technology company’s stock worth $634,000 after acquiring an additional 7,299 shares in the last quarter. IHT Wealth Management LLC lifted its position in AT&T by 51.9% during the 3rd quarter. IHT Wealth Management LLC now owns 150,435 shares of the technology company’s stock worth $2,308,000 after acquiring an additional 51,425 shares in the last quarter. Gibson Wealth Advisors LLC boosted its holdings in AT&T by 27.9% in the 3rd quarter. Gibson Wealth Advisors LLC now owns 34,211 shares of the technology company’s stock worth $525,000 after acquiring an additional 7,470 shares during the period. Finally, Coombe Bender & Co LLC grew its position in AT&T by 11.5% in the third quarter. Coombe Bender & Co LLC now owns 83,141 shares of the technology company’s stock valued at $1,275,000 after acquiring an additional 8,545 shares in the last quarter. 51.86% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.4 %

T stock opened at $18.39 on Friday. The firm has a fifty day moving average price of $19.23 and a two-hundred day moving average price of $18.19. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.53. AT&T Inc. has a 1-year low of $14.46 and a 1-year high of $21.53. The firm has a market cap of $131.12 billion, a price-to-earnings ratio of -15.45, a PEG ratio of 2.25 and a beta of 0.66.

AT&T (NYSE:T – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. AT&T had a negative net margin of 6.60% and a positive return on equity of 14.18%. The business had revenue of $31.30 billion during the quarter, compared to the consensus estimate of $31.50 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue for the quarter was down 23.6% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $17.00 to $22.00 in a research report on Tuesday, January 10th. Cowen boosted their price objective on shares of AT&T from $24.00 to $25.00 in a report on Thursday, January 26th. Moffett Nathanson restated an “underperform” rating and set a $17.00 target price on shares of AT&T in a research note on Monday, December 19th. Morgan Stanley downgraded AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price target for the company. in a report on Thursday, December 15th. Finally, Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, December 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

AT&T Company Profile

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.

See Also

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

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