AT&T Inc. (NYSE:T) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. reduced its holdings in shares of AT&T Inc. (NYSE:T) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,510 shares of the technology company’s stock after selling 1,479 shares during the period. Bridges Investment Management Inc.’s holdings in AT&T were worth $1,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Old Port Advisors boosted its holdings in shares of AT&T by 0.6% in the 4th quarter. Old Port Advisors now owns 45,402 shares of the technology company’s stock valued at $1,775,000 after buying an additional 261 shares in the last quarter. Garrett Wealth Advisory Group LLC raised its holdings in shares of AT&T by 2.0% in the fourth quarter. Garrett Wealth Advisory Group LLC now owns 13,307 shares of the technology company’s stock valued at $520,000 after buying an additional 263 shares during the last quarter. FCA Corp TX raised its holdings in shares of AT&T by 4.2% in the fourth quarter. FCA Corp TX now owns 6,685 shares of the technology company’s stock valued at $261,000 after buying an additional 272 shares during the last quarter. Summit Financial Group Inc. boosted its stake in shares of AT&T by 0.5% during the fourth quarter. Summit Financial Group Inc. now owns 53,336 shares of the technology company’s stock worth $2,085,000 after buying an additional 291 shares during the period. Finally, Hurlow Wealth Management Group Inc. increased its position in AT&T by 2.7% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 10,978 shares of the technology company’s stock valued at $416,000 after acquiring an additional 292 shares during the period. 56.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T stock opened at $28.40 on Thursday. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70. The company has a market capitalization of $204.00 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.41 and a beta of 0.64. The stock has a fifty day moving average of $35.80 and a two-hundred day moving average of $37.54. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.79 and a current ratio of 0.79.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $46.82 billion for the quarter, compared to analyst estimates of $47.06 billion. AT&T had a return on equity of 13.37% and a net margin of 7.67%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. On average, analysts forecast that AT&T Inc. will post 3.61 EPS for the current fiscal year.

In other news, Director Stephen J. Luczo bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $37.81 per share, for a total transaction of $3,781,000.00. 0.07% of the stock is owned by company insiders.

Several equities analysts have issued reports on the stock. Deutsche Bank started coverage on shares of AT&T in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $44.00 price objective on the stock. Citigroup lowered their target price on shares of AT&T from $42.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday. Raymond James cut AT&T from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Tigress Financial reissued a “buy” rating on shares of AT&T in a report on Friday, January 3rd. Finally, Robert W. Baird downgraded shares of AT&T from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $41.00 to $33.00 in a research report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $38.92.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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