Acadian Asset Management Llc increased its stake in At&T Inc (NYSE:T) by 59.83% based on its latest 2016Q2 regulatory filing with the SEC. Acadian Asset Management Llc bought 3.91M shares as the company’s stock rose 14.03% with the market. The institutional investor held 10.46 million shares of the telecommunications equipment company at the end of 2016Q2, valued at $409.58M, up from 6.54 million at the end of the previous reported quarter. Acadian Asset Management Llc who had been investing in At&T Inc for a number of months, seems to be bullish on the $251.20B market cap company. The stock is down 2.16% or $0.88 hitting $39.83, despite the positive news. About 12.03M shares traded hands. AT&T Inc. (NYSE:T) has risen 9.70% since February 8, 2016 and is uptrending. It has underperformed by 6.79% the S&P500.
Acadian Asset Management Llc, which manages about $65.15B and $19.81 billion US Long portfolio, decreased its stake in O Reilly Automotive Inc New (NASDAQ:ORLY) by 65,195 shares to 63,337 shares, valued at $17.33 million in 2016Q2, according to the filing. It also reduced its holding in Fleetmatics Group Plc (NYSE:FLTX) by 193,887 shares in the quarter, leaving it with 51,419 shares, and cut its stake in Aspen Technology Inc (NASDAQ:AZPN).
Acadian Asset Management Llc is a Massachusetts-based institutional investor with more than $65.15 billion AUM in March, 2014. This fund invests only a small percentage of its assets in equities and options. Acadian Asset Management Llc is the 78th largest institutional investor in our database. Taken from Acadian Asset Management latest Adv, the fund reported to have 220 full and part-time employees. Among which 60 performing investment advisory and research functions. The institutional investor had more than 200 clients.
The institutional sentiment decreased to 1.18 in 2016 Q2. Its down 0.06, from 1.24 in 2016Q1. The ratio is negative, as 51 funds sold all T shares owned while 641 reduced positions. 78 funds bought stakes while 736 increased positions. They now own 3.22 billion shares or 0.63% less from 3.24 billion shares in 2016Q1.
Hwg Holdings Lp holds 7.3% of its portfolio in T for 182,029 shares. Jhl Capital Group Llc owns 1.30 million shares or 6.94% of their US portfolio. Moreover, Guardian Investment Management has 6.46% invested in the company for 134,428 shares. The New York-based Seminole Management Co. Inc. has invested 6.25% in the stock. Symons Capital Management Inc, a Pennsylvania-based fund reported 597,903 shares.
Out of 12 analysts covering AT&T Inc. (NYSE:T), 7 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 58% are positive. $48 is the highest target while $35 is the lowest. The $41.33 average target is 3.77% above today’s ($39.83) stock price. AT&T Inc. has been the topic of 17 analyst reports since October 2, 2015 according to StockzIntelligence Inc. FBR Capital maintained the stock on July 22 with “Mkt Perform” rating. Deutsche Bank maintained the shares of T in a report on June 28 with “Buy” rating. Lastly, Buckingham Research downgraded the stock to “Neutral” rating in a June 24 report.
AT&T Inc. is a holding company. The Company offers communications and digital entertainment services in the United States and the world. The company has a market cap of $251.20 billion. It operates through four divisions: Business Solutions, Entertainment Group, Consumer Mobility and International. It has a 17.2 P/E ratio. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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