Picton Mahoney Asset Management Increases Stock Holdings in AT&T Inc. (NYSE:T)

Picton Mahoney Asset Management raised its stake in AT&T Inc. (NYSE:T) by 1,820.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,262 shares of the technology company’s stock after purchasing an additional 234,390 shares during the period. Picton Mahoney Asset Management’s holdings in AT&T were worth $5,631,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in T. Curi RMB Capital LLC boosted its holdings in shares of AT&T by 71.2% in the third quarter. Curi RMB Capital LLC now owns 22,453 shares of the technology company’s stock valued at $494,000 after acquiring an additional 9,335 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of AT&T by 10.1% during the third quarter. OneDigital Investment Advisors LLC now owns 190,699 shares of the technology company’s stock worth $4,195,000 after purchasing an additional 17,469 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of AT&T by 5.4% during the third quarter. CIBC Asset Management Inc now owns 1,150,056 shares of the technology company’s stock worth $25,300,000 after purchasing an additional 58,585 shares during the period. Signature Estate & Investment Advisors LLC lifted its holdings in shares of AT&T by 3.2% during the third quarter. Signature Estate & Investment Advisors LLC now owns 32,013 shares of the technology company’s stock worth $704,000 after purchasing an additional 997 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in shares of AT&T by 21.8% during the third quarter. Natixis Advisors LLC now owns 2,201,609 shares of the technology company’s stock worth $48,435,000 after purchasing an additional 393,838 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 2.0 %

Shares of T stock opened at $26.61 on Friday. The firm has a 50-day moving average price of $24.66 and a 200 day moving average price of $23.06. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The company has a market capitalization of $190.98 billion, a price-to-earnings ratio of 17.86, a PEG 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 (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating 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%. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays increased their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 29th. Sanford C. Bernstein increased their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. Finally, Citigroup boosted their target price 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T 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.