Highland Capital Management LLC Sells 2,455 Shares of AT&T Inc. (NYSE:T)

Highland Capital Management LLC cut its holdings in AT&T Inc. (NYSE:T) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 302,316 shares of the technology company’s stock after selling 2,455 shares during the period. Highland Capital Management LLC’s holdings in AT&T were worth $5,073,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in AT&T by 2.2% in the second quarter. BlackRock Inc. now owns 534,767,576 shares of the technology company’s stock worth $8,529,543,000 after buying an additional 11,639,588 shares during the period. State Street Corp lifted its holdings in AT&T by 3.4% in the second quarter. State Street Corp now owns 297,085,864 shares of the technology company’s stock worth $4,738,520,000 after buying an additional 9,781,352 shares during the period. Newport Trust Company LLC lifted its holdings in AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares during the period. Morgan Stanley lifted its holdings in AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after buying an additional 29,769,976 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its holdings in AT&T by 85,003.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after buying an additional 76,746,649 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $17.58 on Thursday. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.99. The firm has a market cap of $125.71 billion, a P/E ratio of 8.97, a PEG ratio of 2.59 and a beta of 0.57. The company has a 50 day moving average of $17.08 and a 200 day moving average of $16.26. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. During the same period last year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on T. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $18.00 to $21.00 in a report on Thursday, February 1st. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Barclays lifted their target price on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Finally, Tigress Financial lifted their target price on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.61.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.