American Trust Buys New Position in AT&T Inc. (NYSE:T)

American Trust bought a new stake in shares of AT&T Inc. (NYSE:T – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,658 shares of the technology company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in T. Vanguard Group Inc. raised its holdings in AT&T by 0.7% in the third quarter. Vanguard Group Inc. now owns 600,524,205 shares of the technology company’s stock worth $9,212,041,000 after purchasing an additional 3,894,916 shares in the last quarter. State Street Corp raised its holdings in AT&T by 1.6% in the third quarter. State Street Corp now owns 280,895,582 shares of the technology company’s stock worth $4,308,938,000 after purchasing an additional 4,430,454 shares in the last quarter. Newport Trust Co raised its holdings in AT&T by 0.9% in the second quarter. Newport Trust Co now owns 199,277,658 shares of the technology company’s stock worth $4,176,860,000 after purchasing an additional 1,851,506 shares in the last quarter. Northern Trust Corp raised its holdings in AT&T by 1.3% in the second quarter. Northern Trust Corp now owns 76,189,792 shares of the technology company’s stock worth $1,596,938,000 after purchasing an additional 950,450 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in AT&T by 4.8% in the second quarter. Legal & General Group Plc now owns 52,838,773 shares of the technology company’s stock worth $1,107,506,000 after purchasing an additional 2,402,764 shares in the last quarter. Institutional investors own 51.86% of the company’s stock.

Analyst Ratings Changes

T has been the subject of a number of research reports. Moffett Nathanson reiterated an “underperform” rating and issued a $17.00 price objective on shares of AT&T in a report on Monday, December 19th. Morgan Stanley downgraded AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price target for the company. in a report on Thursday, December 15th. StockNews.com initiated coverage on AT&T in a report on Thursday. They set a “hold” rating for the company. Credit Suisse Group raised their price target on AT&T from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. Finally, Wells Fargo & Company upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $17.00 to $22.00 in a report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.00.

AT&T Trading Down 1.4 %

Shares of NYSE:T opened at $18.13 on Friday. The stock has a market capitalization of $129.26 billion, a price-to-earnings ratio of -15.24, a PEG ratio of 2.27 and a beta of 0.66. 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 stock’s 50-day simple moving average is $19.20 and its two-hundred day simple moving average is $18.19. AT&T Inc. has a 52-week low of $14.46 and a 52-week high of $21.53.

AT&T (NYSE:T – Get Rating) last announced its earnings results on Wednesday, January 25th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $31.30 billion for the quarter, compared to analysts’ expectations of $31.50 billion. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The business’s revenue for the quarter was down 23.6% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. Analysts expect that AT&T Inc. will post 2.43 EPS for the current year.

AT&T Company 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.