Envestnet Portfolio Solutions Inc. Grows Stock Holdings in AT&T Inc. (NYSE:T)

Envestnet Portfolio Solutions Inc. raised its position in AT&T Inc. (NYSE:T) by 16.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,800 shares of the technology company’s stock after acquiring an additional 58,470 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in AT&T were worth $11,957,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of T. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $27,000. Marshall Investment Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $28,000. Finally, Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of a number of research reports. Barclays lifted their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. UBS Group reaffirmed a “buy” rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Wednesday. Finally, Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.76.

AT&T Trading Down 0.0%

Shares of NYSE T opened at $27.65 on Friday. The firm’s 50 day moving average price is $27.51 and its 200-day moving average price is $25.76. The company has a market cap of $198.92 billion, a PE ratio of 16.96, a P/E/G ratio of 3.85 and a beta of 0.41. AT&T Inc. has a 52-week low of $17.90 and a 52-week high of $29.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.