Power Corp of Canada Takes $292,000 Position in AT&T Inc. (NYSE:T)

Power Corp of Canada purchased a new stake in shares of AT&T Inc. (NYSE:T – Get Rating) during the third quarter, Holdings Channel reports. The fund purchased 19,033 shares of the technology company’s stock, valued at approximately $292,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Industrial Alliance Investment Management Inc. bought a new position in shares of AT&T during the 2nd quarter valued at $29,000. New Millennium Group LLC bought a new position in AT&T in the 2nd quarter worth $34,000. Bay Harbor Wealth Management LLC bought a new position in AT&T in the 3rd quarter worth $36,000. Eisler Capital UK Ltd. bought a new position in AT&T in the 3rd quarter worth $36,000. Finally, McClarren Financial Advisors Inc. bought a new position in AT&T in the 3rd quarter worth $45,000. Institutional investors own 51.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Moffett Nathanson reiterated an “underperform” rating and issued a $17.00 target price on shares of AT&T in a report on Monday, December 19th. Cowen lifted their target price on shares of AT&T from $24.00 to $25.00 in a report on Thursday, January 26th. Wells Fargo & Company upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $17.00 to $22.00 in a report on Tuesday, January 10th. Citigroup lifted their target price on shares of AT&T from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Finally, StockNews.com assumed coverage on shares of AT&T in a report on Thursday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

AT&T Price Performance

Shares of AT&T stock opened at $18.31 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.53 and a current ratio of 0.59. The firm’s 50-day simple moving average is $19.24 and its 200-day simple moving average is $18.18. AT&T Inc. has a twelve month low of $14.46 and a twelve month high of $21.53. The firm has a market cap of $130.55 billion, a P/E ratio of -15.39, a price-to-earnings-growth ratio of 2.27 and a beta of 0.66.

AT&T (NYSE:T – Get Rating) last issued its earnings results on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $31.50 billion. During the same period in the previous year, the business earned $0.78 EPS. The firm’s revenue was down 23.6% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 2.42 EPS for the current fiscal year.

About AT&T

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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.