TD Asset Management Inc. Sells 852,199 Shares of AT&T Inc. (NYSE:T)

TD Asset Management Inc. trimmed its position in shares of AT&T Inc. (NYSE:T) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,612,939 shares of the technology company’s stock after selling 852,199 shares during the period. TD Asset Management Inc.’s holdings in AT&T were worth $150,577,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of T. Vanguard Group Inc. boosted its position in AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after buying an additional 6,220,442 shares during the period. Geode Capital Management LLC lifted its stake in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. GQG Partners LLC lifted its stake in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Finally, FMR LLC grew its position in AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays increased their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. Oppenheimer started coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Citigroup raised their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Price Performance

Shares of T opened at $27.30 on Wednesday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.97. The firm’s 50-day simple moving average is $25.35 and its two-hundred day simple moving average is $23.40. The stock has a market cap of $195.96 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

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.