Highland Capital Management LLC reduced its position in shares of AT&T Inc. (NYSE:T – Free Report) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 302,316 shares of the technology company’s stock after selling 2,455 shares during the period. Highland Capital Management LLC’s holdings in AT&T were worth $5,073,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Carmel Capital Partners LLC raised its holdings in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares in the last quarter. FWL Investment Management LLC acquired a new position in AT&T in the 4th quarter valued at $31,000. Financial Freedom LLC acquired a new position in AT&T in the 4th quarter valued at $34,000. Lipe & Dalton acquired a new position in AT&T in the 3rd quarter valued at $30,000. Finally, Ramirez Asset Management Inc. acquired a new position in AT&T in the 3rd quarter valued at $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.
AT&T Stock Up 2.3 %
Shares of NYSE:T opened at $17.58 on Thursday. The company has a market capitalization of $125.71 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 2.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The business’s 50-day moving average is $17.08 and its 200-day moving average is $16.26. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.99.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on T shares. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company lifted their price target on AT&T from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Tigress Financial lifted their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Barclays lifted their price target on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Finally, StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.61.
Get Our Latest Research Report on T
About AT&T
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.
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