AT&T Inc. (NYSE:T) Shares Bought by Procyon Advisors LLC

Posted by on Mar 27th, 2023

Procyon Advisors LLC grew its holdings in AT&T Inc. (NYSE:T – Get Rating) by 16.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,462 shares of the technology company’s stock after buying an additional 8,444 shares during the quarter. Procyon Advisors LLC’s holdings in AT&T were worth $1,076,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in T. New Millennium Group LLC acquired a new position in shares of AT&T in the 2nd quarter valued at $34,000. Iron Horse Wealth Management LLC increased its holdings in shares of AT&T by 75.6% in the 4th quarter. Iron Horse Wealth Management LLC now owns 1,881 shares of the technology company’s stock valued at $35,000 after acquiring an additional 810 shares during the last quarter. Bay Harbor Wealth Management LLC purchased a new position in shares of AT&T in the 3rd quarter valued at about $36,000. Eisler Capital UK Ltd. purchased a new position in shares of AT&T in the 3rd quarter valued at about $36,000. Finally, Trifecta Capital Advisors LLC purchased a new position in AT&T during the 4th quarter worth approximately $43,000. 51.86% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 0.8 %

Shares of T opened at $18.61 on Monday. The stock’s 50-day moving average is $19.11 and its two-hundred day moving average is $18.24. The stock has a market cap of $132.69 billion, a PE ratio of -15.64, a P/E/G ratio of 2.31 and a beta of 0.66. AT&T Inc. has a 12 month low of $14.46 and a 12 month high of $21.53. 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 (NYSE:T – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The business had revenue of $31.30 billion for the quarter, compared to analysts’ expectations of $31.50 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was down 23.6% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on T shares. Moffett Nathanson restated an “underperform” rating and set a $17.00 price target on shares of AT&T in a research note on Monday, December 19th. Citigroup raised their price objective on AT&T from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Credit Suisse Group raised their price target on AT&T from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th. Wells Fargo & Company raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $22.00 in a research report on Tuesday, January 10th. Finally, Argus raised AT&T from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, December 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

AT&T 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.

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

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