Altfest L J & Co. Inc. Has $627,000 Position in AT&T Inc. (NYSE:T)

Altfest L J & Co. Inc. trimmed its position in AT&T Inc. (NYSE:T) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 37,372 shares of the technology company’s stock after selling 1,528 shares during the quarter. Altfest L J & Co. Inc.’s holdings in AT&T were worth $627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in AT&T by 1.2% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company’s stock worth $1,119,000 after purchasing an additional 547 shares during the last quarter. SMH Capital Advisors Inc. boosted its position in AT&T by 1.8% during the 4th quarter. SMH Capital Advisors Inc. now owns 31,771 shares of the technology company’s stock worth $585,000 after acquiring an additional 565 shares during the period. Kahn Brothers Group Inc. lifted its stake in shares of AT&T by 3.4% in the 4th quarter. Kahn Brothers Group Inc. now owns 17,329 shares of the technology company’s stock worth $319,000 after acquiring an additional 575 shares during the period. Schubert & Co raised its stake in shares of AT&T by 2.0% in the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after buying an additional 631 shares in the last quarter. Finally, Hancock Whitney Corp grew its holdings in AT&T by 0.9% during the first quarter. Hancock Whitney Corp now owns 74,780 shares of the technology company’s stock worth $1,439,000 after acquiring an additional 654 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 0.7 %

Shares of AT&T stock traded up $0.13 during trading hours on Thursday, reaching $17.68. 14,945,229 shares of the company’s stock were exchanged, compared to its average volume of 38,542,711. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.99. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $17.08 and a two-hundred day moving average of $16.26. The stock has a market cap of $126.46 billion, a P/E ratio of 8.97, a P/E/G ratio of 2.59 and a beta of 0.57.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on T. StockNews.com raised AT&T from a “hold” rating to a “buy” rating in a research note on Wednesday. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Barclays lifted their price objective on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, Tigress Financial lifted their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.61.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.