Providence Wealth Advisors LLC Sells 4,492 Shares of AT&T Inc. (NYSE:T)

Providence Wealth Advisors LLC decreased its position in AT&T Inc. (NYSE:T) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,392 shares of the technology company’s stock after selling 4,492 shares during the period. Providence Wealth Advisors LLC’s holdings in AT&T were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the 3rd quarter worth $25,000. Marshall Investment Management LLC purchased a new position in AT&T in the 4th quarter valued at approximately $28,000. Tradewinds Capital Management LLC lifted its holdings 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 valued at $30,000 after purchasing an additional 430 shares in the last quarter. YANKCOM Partnership purchased a new position in shares of AT&T during the fourth quarter valued at approximately $30,000. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of AT&T during the 4th quarter valued at about $34,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Sanford C. Bernstein raised their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Stock Up 1.2 %

AT&T stock opened at $27.65 on Thursday. The stock’s fifty day moving average is $25.46 and its two-hundred day moving average is $23.43. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97. The stock has a market cap of $198.48 billion, a PE ratio of 18.56, a P/E/G ratio of 3.00 and a beta of 0.56. 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 announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect 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.