1620 Investment Advisors Inc. Boosts Holdings in AT&T Inc. (NYSE:T)

1620 Investment Advisors Inc. grew its stake in shares of AT&T Inc. (NYSE:T) by 1.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,161 shares of the technology company’s stock after purchasing an additional 421 shares during the period. 1620 Investment Advisors Inc.’s holdings in AT&T were worth $596,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of AT&T during the 4th quarter worth $14,700,000. Franklin Resources Inc. raised its stake in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp raised its stake in shares of AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after buying an additional 21,927 shares during the last quarter. Fortress Financial Solutions LLC acquired a new position in shares of AT&T during the 4th quarter worth $691,000. Finally, West Family Investments Inc. raised its stake in shares of AT&T by 70.4% during the 4th quarter. West Family Investments Inc. now owns 37,961 shares of the technology company’s stock worth $864,000 after buying an additional 15,680 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T opened at $26.77 on Friday. The business’s fifty day moving average price is $25.02 and its 200 day moving average price is $23.23. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97. The stock has a market capitalization of $192.14 billion, a PE ratio of 17.96, 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.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on T. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Tigress Financial boosted their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.79.

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.