AT&T Inc. (NYSE:T) Shares Purchased by Ballast Inc.

Ballast Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,433 shares of the technology company’s stock after acquiring an additional 2,079 shares during the quarter. Ballast Inc.’s holdings in AT&T were worth $729,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its position in shares of AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after acquiring an additional 76,746,649 shares in the last quarter. Norges Bank purchased a new stake in AT&T in the fourth quarter valued at $1,229,499,000. Ameriprise Financial Inc. boosted its position in shares of AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after purchasing an additional 34,189,954 shares during the period. FMR LLC boosted its holdings in shares of AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after acquiring an additional 32,558,342 shares during the period. Finally, Morgan Stanley increased its stake 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 purchasing an additional 29,769,976 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T opened at $17.60 on Friday. The stock has a market cap of $125.89 billion, a P/E ratio of 8.98, a PEG ratio of 2.65 and a beta of 0.57. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.99. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a 50-day moving average of $17.11 and a two-hundred day moving average of $16.27.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft raised their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Friday, January 19th. Tigress Financial lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target 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.