PFG Advisors Sells 9,180 Shares of AT&T Inc. (NYSE:T)

PFG Advisors lowered its position in AT&T Inc. (NYSE:T) by 23.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,856 shares of the technology company’s stock after selling 9,180 shares during the period. PFG Advisors’ holdings in AT&T were worth $680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Cascade Financial Partners LLC increased its holdings in AT&T by 9.2% during the fourth quarter. Cascade Financial Partners LLC now owns 23,668 shares of the technology company’s stock worth $539,000 after buying an additional 2,000 shares during the last quarter. Natural Investments LLC bought a new position in AT&T during the fourth quarter worth about $362,000. Inspire Advisors LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $280,000. Donaldson Capital Management LLC boosted its position in shares of AT&T by 14.0% in the fourth quarter. Donaldson Capital Management LLC now owns 16,424 shares of the technology company’s stock valued at $374,000 after acquiring an additional 2,011 shares during the period. Finally, Global View Capital Management LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $266,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on T. Royal Bank of Canada lifted their target price on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Barclays lifted their price target 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. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Tigress Financial lifted their target price on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T Price Performance

Shares of NYSE:T opened at $26.61 on Friday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.97. The business has a 50-day simple moving average of $24.66 and a two-hundred day simple moving average of $23.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a market cap of $190.98 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate 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, analysts expect 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.