Carret Asset Management LLC Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Carret Asset Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 13.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 70,419 shares of the technology company’s stock after selling 10,853 shares during the period. Carret Asset Management LLC’s holdings in AT&T were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in AT&T in the 3rd quarter valued at $25,000. Marshall Investment Management LLC acquired a new stake in AT&T in the 4th quarter valued at $28,000. Ritter Daniher Financial Advisory LLC DE grew its stake in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. YANKCOM Partnership acquired a new stake in AT&T in the 4th quarter valued at $30,000. Finally, Tradewinds Capital Management LLC grew its stake in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 1.4 %

Shares of T opened at $26.09 on Friday. The firm has a market cap of $187.24 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97. The company’s 50-day moving average price is $24.59 and its 200 day moving average price is $22.98. 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 (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on T shares. Citigroup lifted their price target 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. Royal Bank of Canada lifted their target price on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. 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. Barclays lifted their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.74.

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.