TrueMark Investments LLC Buys New Position in AT&T Inc. (NYSE:T)

TrueMark Investments LLC purchased a new position in AT&T Inc. (NYSE:T) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 118,463 shares of the technology company’s stock, valued at approximately $2,697,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Great Valley Advisor Group Inc. lifted its holdings in AT&T by 19.4% during the third quarter. Great Valley Advisor Group Inc. now owns 66,883 shares of the technology company’s stock valued at $1,472,000 after purchasing an additional 10,854 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of AT&T by 27.3% during the 3rd quarter. Larson Financial Group LLC now owns 39,481 shares of the technology company’s stock valued at $869,000 after buying an additional 8,460 shares in the last quarter. Davis R M Inc. boosted its holdings in AT&T by 20.5% in the 3rd quarter. Davis R M Inc. now owns 36,416 shares of the technology company’s stock worth $801,000 after buying an additional 6,202 shares during the period. Harvest Fund Management Co. Ltd increased its stake in AT&T by 1,453.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 75,560 shares of the technology company’s stock worth $1,661,000 after buying an additional 70,696 shares in the last quarter. Finally, Independent Advisor Alliance bought a new stake in AT&T during the third quarter valued at about $4,001,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, January 16th. Scotiabank boosted their price target on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Finally, Barclays raised their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.79.

AT&T Price Performance

NYSE T opened at $27.30 on Wednesday. The firm’s fifty day simple moving average is $25.35 and its two-hundred day simple moving average is $23.40. The firm has a market capitalization of $195.96 billion, a P/E ratio of 18.32, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts forecast that AT&T Inc. will post 2.14 EPS 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.