Advisors Asset Management Inc. Sells 20,223 Shares of AT&T Inc. (NYSE:T)

Advisors Asset Management Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,659,090 shares of the technology company’s stock after selling 20,223 shares during the period. AT&T accounts for about 0.7% of Advisors Asset Management Inc.’s portfolio, making the stock its 15th biggest position. Advisors Asset Management Inc.’s holdings in AT&T were worth $37,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new position in AT&T during the 3rd quarter worth about $25,000. Marshall Investment Management LLC purchased a new stake in shares of AT&T during the fourth quarter worth $28,000. YANKCOM Partnership purchased a new stake in shares of AT&T during the fourth quarter worth $30,000. Tradewinds Capital Management LLC raised its position in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T in the fourth quarter worth $34,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of research analyst reports. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, January 16th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research report on Thursday, February 13th. Barclays boosted their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. UBS Group boosted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Scotiabank lifted their target price on shares of AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.74.

AT&T Trading Up 1.1 %

NYSE T opened at $26.87 on Tuesday. The company has a market capitalization of $192.86 billion, a PE ratio of 18.03, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a fifty day moving average of $24.75 and a 200 day moving average of $23.13. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.97. 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 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 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.