Assenagon Asset Management S.A. Raises Position in AT&T Inc. $T

Assenagon Asset Management S.A. lifted its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 306,856 shares of the technology company's stock after purchasing an additional 10,485 shares during the quarter. Assenagon Asset Management S.A.'s holdings in AT&T were worth $8,880,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T in the 2nd quarter valued at about $5,266,758,000. Nuveen LLC purchased a new position in AT&T in the first quarter valued at approximately $1,072,128,000. GQG Partners LLC lifted its position in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after buying an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after buying an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP grew its stake in AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after buying an additional 8,841,126 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

T opened at $28.78 on Wednesday. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $205.75 billion, a P/E ratio of 16.35, a PEG ratio of 3.58 and a beta of 0.44. The stock has a fifty day moving average of $28.52 and a 200-day moving average of $27.85.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the prior year, the business earned $0.51 EPS. The business's revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. The Goldman Sachs Group began coverage on AT&T in a research note on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price objective for the company. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research report on Thursday, July 24th. Finally, Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average price target of $30.74.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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