Advocate Group LLC Takes $237,000 Position in AT&T Inc. (NYSE:T)

Advocate Group LLC acquired a new position in AT&T Inc. (NYSE:T) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,390 shares of the technology company’s stock, valued at approximately $237,000.

Several other institutional investors have also recently made changes to their positions in T. Norges Bank bought a new position in AT&T in the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC raised its position in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after buying an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after buying an additional 12,881,578 shares in the last quarter. Northern Trust Corp boosted its position in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on T shares. UBS Group reiterated a “buy” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a report on Wednesday. Williams Trading set a $30.00 target price on AT&T in a report on Thursday, April 24th. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Oppenheimer raised their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company lifted their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $28.76.

AT&T Trading Up 0.5%

Shares of NYSE T opened at $27.79 on Friday. AT&T Inc. has a twelve month low of $18.07 and a twelve month high of $29.03. The firm has a market cap of $199.96 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 3.85 and a beta of 0.41. The business has a fifty day simple moving average of $27.53 and a two-hundred day simple moving average of $25.78. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.14 earnings per share 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.