Skandinaviska Enskilda Banken AB publ Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Skandinaviska Enskilda Banken AB publ lessened its position in AT&T Inc. (NYSE:T) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,220,161 shares of the technology company’s stock after selling 167,879 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in AT&T were worth $50,198,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its holdings 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 valued at $225,741,000 after acquiring an additional 9,719,036 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AT&T by 7.1% in the fourth 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 in the last quarter. Amundi grew its position in shares of AT&T by 19.8% in the fourth quarter. Amundi now owns 33,963,826 shares of the technology company’s stock valued at $753,318,000 after purchasing an additional 5,614,168 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new position in AT&T during the fourth quarter worth approximately $65,288,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on T shares. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Citigroup raised their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Scotiabank lifted their target price on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, January 16th. Finally, Royal Bank of Canada lifted their price target on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.74.

AT&T Stock Performance

Shares of AT&T stock opened at $25.72 on Thursday. The stock has a market capitalization of $184.59 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The business has a 50-day moving average of $24.52 and a 200 day moving average of $22.96. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.97.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

About AT&T

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.