Oliver Luxxe Assets LLC lessened its holdings in AT&T Inc. (NYSE:T) by 84.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,306 shares of the technology company’s stock after selling 99,972 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in AT&T were worth $712,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Pennsylvania Trust Co increased its holdings in AT&T by 0.7% during the fourth quarter. Pennsylvania Trust Co now owns 362,613 shares of the technology company’s stock worth $14,103,000 after buying an additional 2,382 shares during the last quarter. Atria Investments LLC increased its holdings in shares of AT&T by 8.5% in the fourth quarter. Atria Investments LLC now owns 227,450 shares of the technology company’s stock valued at $8,843,000 after purchasing an additional 17,878 shares during the last quarter. Ridgewood Investments LLC increased its holdings in shares of AT&T by 25.9% in the fourth quarter. Ridgewood Investments LLC now owns 12,539 shares of the technology company’s stock valued at $487,000 after purchasing an additional 2,579 shares during the last quarter. KCS Wealth Advisory acquired a new position in shares of AT&T in the fourth quarter valued at $201,000. Finally, Nadler Financial Group Inc. increased its holdings in shares of AT&T by 95.7% in the fourth quarter. Nadler Financial Group Inc. now owns 29,028 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 14,198 shares during the last quarter. 59.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP John T. Stankey sold 2,307 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $39.21, for a total transaction of $90,457.47. Following the completion of the sale, the executive vice president now owns 51,672 shares of the company’s stock, valued at $2,026,059.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Donovan acquired 27,997 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $35.68 per share, with a total value of $998,932.96. Following the transaction, the chief executive officer now directly owns 179,834 shares of the company’s stock, valued at $6,416,477.12. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.
AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.13. AT&T had a net margin of 18.34% and a return on equity of 14.55%. The business had revenue of $41.68 billion for the quarter, compared to the consensus estimate of $41.21 billion. During the same period in the prior year, the company posted $0.66 earnings per share. AT&T’s revenue was down .4% compared to the same quarter last year. research analysts anticipate that AT&T Inc. will post 3.47 EPS for the current fiscal year.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Monday, March 5th. Vetr downgraded shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $40.01 price objective on the stock. in a report on Tuesday, February 13th. Argus reiterated a “buy” rating and issued a $36.83 price objective (down from $48.00) on shares of AT&T in a report on Wednesday, February 7th. Bank of America upped their price objective on shares of AT&T from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Finally, ValuEngine downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $41.82.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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