Tyche Wealth Partners LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Tyche Wealth Partners LLC trimmed its position in AT&T Inc. (NYSE:T) by 7.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 54,532 shares of the technology company’s stock after selling 4,192 shares during the period. Tyche Wealth Partners LLC’s holdings in AT&T were worth $1,542,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Live Oak Investment Partners increased its stake in shares of AT&T by 3,588.6% in the first quarter. Live Oak Investment Partners now owns 45,628 shares of the technology company’s stock worth $1,290,000 after buying an additional 44,391 shares during the period. Alpine Bank Wealth Management bought a new stake in AT&T in the first quarter valued at $303,000. Golden State Wealth Management LLC boosted its holdings in AT&T by 342.1% in the first quarter. Golden State Wealth Management LLC now owns 18,560 shares of the technology company’s stock valued at $525,000 after acquiring an additional 14,362 shares in the last quarter. Aurora Private Wealth Inc. boosted its holdings in AT&T by 903.4% in the first quarter. Aurora Private Wealth Inc. now owns 170,019 shares of the technology company’s stock valued at $4,808,000 after acquiring an additional 153,075 shares in the last quarter. Finally, Kellett Wealth Advisors LLC boosted its holdings in AT&T by 8.2% in the first quarter. Kellett Wealth Advisors LLC now owns 16,952 shares of the technology company’s stock valued at $479,000 after acquiring an additional 1,287 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. UBS Group reiterated a “buy” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. TD Securities lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, Tigress Financial lifted their price target on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $28.76.

AT&T Price Performance

Shares of T opened at $28.29 on Wednesday. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.03. The company has a market capitalization of $203.53 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 4.00 and a beta of 0.41. The firm has a 50 day moving average of $27.57 and a 200 day moving average of $25.86. 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 (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. As a group, equities research analysts anticipate 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.