Inlight Wealth Management LLC Sells 21,807 Shares of AT&T Inc. (NYSE:T)

Inlight Wealth Management LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 5.4% during the first quarter, Holdings Channel reports. The firm owned 379,231 shares of the technology company’s stock after selling 21,807 shares during the period. AT&T comprises 3.4% of Inlight Wealth Management LLC’s holdings, making the stock its 7th biggest holding. Inlight Wealth Management LLC’s holdings in AT&T were worth $10,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of T. Norges Bank acquired a new position in shares of AT&T in the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC boosted its holdings in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AT&T by 31.8% in the 4th 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 acquiring an additional 12,881,578 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of AT&T by 16.3% in the 4th 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 in the last quarter. Finally, Assetmark Inc. raised its position in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on T. TD Securities boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Royal Bank Of Canada boosted their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Evercore ISI boosted their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued 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.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $28.76.

AT&T Price Performance

Shares of T stock opened at $27.79 on Friday. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The firm has a market capitalization of $199.96 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 3.87 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The firm has a fifty day moving average of $27.53 and a 200-day moving average of $25.80.

AT&T (NYSE:T) last announced its quarterly 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). 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 analyst estimates of $30.39 billion. During the same period last year, the firm earned $0.55 EPS. AT&T’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T 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.