Altfest L J & Co. Inc. Sells 1,528 Shares of AT&T Inc. (NYSE:T)

Altfest L J & Co. Inc. lessened its position in shares of AT&T Inc. (NYSE:T) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,372 shares of the technology company’s stock after selling 1,528 shares during the quarter. Altfest L J & Co. Inc.’s holdings in AT&T were worth $627,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in AT&T by 3.4% in the 2nd quarter. State Street Corp now owns 297,085,864 shares of the technology company’s stock valued at $4,738,520,000 after buying an additional 9,781,352 shares during the period. Newport Trust Company LLC increased its position in shares of AT&T by 0.3% in the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after acquiring an additional 673,043 shares during the period. Morgan Stanley boosted its position in AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after buying an additional 29,769,976 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of AT&T by 85,003.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after acquiring an additional 76,746,649 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after buying an additional 1,828,237 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.7 %

Shares of T stock traded up $0.13 on Thursday, reaching $17.68. 14,945,229 shares of the stock were exchanged, compared to its average volume of 38,542,711. 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 Inc. has a 1-year low of $13.43 and a 1-year high of $19.99. The stock has a market cap of $126.46 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 2.59 and a beta of 0.57. The firm has a 50 day moving average of $17.08 and a two-hundred day moving average of $16.26.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Tigress Financial raised their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Barclays upped their target price on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Friday, January 19th. Finally, Wells Fargo & Company increased their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.