17,658 Shares in AT&T Inc. (NYSE:T) Purchased by American Trust

American Trust purchased a new position in shares of AT&T Inc. (NYSE:T – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,658 shares of the technology company’s stock, valued at approximately $270,000.

A number of other hedge funds have also bought and sold shares of T. New Millennium Group LLC acquired a new stake in AT&T during the second quarter worth about $34,000. Eisler Capital UK Ltd. acquired a new stake in AT&T during the third quarter worth about $36,000. Bay Harbor Wealth Management LLC acquired a new stake in AT&T during the third quarter worth about $36,000. McClarren Financial Advisors Inc. acquired a new stake in AT&T during the third quarter worth about $45,000. Finally, Western Pacific Wealth Management LP grew its stake in AT&T by 268.6% during the third quarter. Western Pacific Wealth Management LP now owns 3,487 shares of the technology company’s stock worth $53,000 after buying an additional 2,541 shares in the last quarter. 51.86% of the stock is owned by institutional investors.

AT&T Price Performance

T opened at $18.13 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.53. The company has a market capitalization of $129.26 billion, a price-to-earnings ratio of -15.24, a P/E/G ratio of 2.27 and a beta of 0.66. The firm’s fifty day moving average price is $19.20 and its two-hundred day moving average price is $18.19. AT&T Inc. has a 1 year low of $14.46 and a 1 year high of $21.53.

AT&T (NYSE:T – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $31.30 billion for the quarter, compared to the consensus estimate of $31.50 billion. AT&T had a negative net margin of 6.60% and a positive return on equity of 14.18%. The business’s revenue for the quarter was down 23.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on T shares. StockNews.com started coverage on shares of AT&T in a research note on Thursday. They issued a “hold” rating on the stock. Morgan Stanley downgraded shares of AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price target on the stock. in a research note on Thursday, December 15th. Raymond James raised their price objective on shares of AT&T from $24.00 to $25.00 and gave the company a “strong-buy” rating in a report on Thursday, January 26th. Credit Suisse Group raised their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. Finally, Wells Fargo & Company upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $17.00 to $22.00 in a report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

About AT&T

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.