Heartland Bank & Trust Co Buys 3,774 Shares of AT&T Inc. (NYSE:T)

Heartland Bank & Trust Co increased its stake in AT&T Inc. (NYSE:T) by 17.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,070 shares of the technology company’s stock after acquiring an additional 3,774 shares during the quarter. Heartland Bank & Trust Co’s holdings in AT&T were worth $709,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC grew its position in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC grew its position in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Bank of New York Mellon Corp grew its position in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares during the period. Finally, Norges Bank acquired a new stake in AT&T in the 4th quarter valued at $1,858,418,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several research reports. Royal Bank Of Canada lifted their price target on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. UBS Group reaffirmed a “buy” rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Tigress Financial lifted their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.76.

AT&T Trading Up 0.5%

Shares of AT&T stock opened at $27.79 on Friday. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.03. The stock’s 50-day simple moving average is $27.53 and its 200 day simple moving average is $25.80. The stock has a market capitalization of $199.96 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.87 and a beta of 0.41. 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 announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 prior year, the firm posted $0.55 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current 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.