AT&T Inc. (NYSE:T) Position Cut by Appleton Partners Inc. MA

Appleton Partners Inc. MA trimmed its stake in AT&T Inc. (NYSE:TFree Report) by 39.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,674 shares of the technology company’s stock after selling 12,005 shares during the quarter. Appleton Partners Inc. MA’s holdings in AT&T were worth $313,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of AT&T by 2.2% during the second quarter. BlackRock Inc. now owns 534,767,576 shares of the technology company’s stock valued at $8,529,543,000 after purchasing an additional 11,639,588 shares in the last quarter. State Street Corp raised its stake in shares of AT&T by 3.4% during the second quarter. State Street Corp now owns 297,085,864 shares of the technology company’s stock valued at $4,738,520,000 after purchasing an additional 9,781,352 shares in the last quarter. Newport Trust Company LLC raised its stake in shares of AT&T by 0.3% during the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after purchasing an additional 673,043 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AT&T by 2.8% during the second quarter. Geode Capital Management LLC now owns 138,173,010 shares of the technology company’s stock valued at $2,198,463,000 after purchasing an additional 3,785,896 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of AT&T by 37.3% during the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. 53.65% of the stock is currently owned by institutional investors.

AT&T Stock Down 1.0 %

Shares of AT&T stock opened at $17.02 on Friday. The firm has a market cap of $121.74 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 2.56 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.99. The stock has a 50-day simple moving average of $17.02 and a 200-day simple moving average of $16.10.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. On average, equities research analysts expect that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Tigress Financial boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Citigroup boosted their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target 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. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $21.61.

View Our Latest Stock Report on T

About AT&T

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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