Mitsubishi UFJ Asset Management Co. Ltd. Buys 930,271 Shares of AT&T Inc. (NYSE:T)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in AT&T Inc. (NYSE:T) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,400,762 shares of the technology company’s stock after purchasing an additional 930,271 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of AT&T worth $258,455,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of T. Legacy Investment Solutions LLC purchased a new stake in AT&T in the third quarter worth $25,000. Marshall Investment Management LLC purchased a new stake in AT&T in the 4th quarter valued at about $28,000. YANKCOM Partnership bought a new position in AT&T in the 4th quarter worth about $30,000. Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares during the period. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of AT&T during the fourth quarter worth approximately $34,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on T. The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Scotiabank raised their price target on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Sanford C. Bernstein upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Oppenheimer began coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Finally, UBS Group upped their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $26.79.

AT&T Stock Performance

T opened at $27.65 on Thursday. The company has a market cap of $198.48 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average price is $25.46 and its 200-day moving average price is $23.43. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $27.97.

AT&T (NYSE:T) last issued its quarterly 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%. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal 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.