AT&T Inc. (NYSE:T) Stake Lowered by Balboa Wealth Partners

Balboa Wealth Partners trimmed its position in shares of AT&T Inc. (NYSE:T) by 27.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,062 shares of the technology company’s stock after selling 15,698 shares during the period. Balboa Wealth Partners’ holdings in AT&T were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of T. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the 3rd quarter worth about $25,000. Marshall Investment Management LLC acquired a new position in AT&T in the fourth quarter worth approximately $28,000. Tradewinds Capital Management LLC raised its position in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares in the last quarter. YANKCOM Partnership acquired a new stake in AT&T in the fourth quarter valued at approximately $30,000. Finally, Ritter Daniher Financial Advisory LLC DE lifted its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Down 1.1 %

Shares of NYSE:T opened at $25.72 on Thursday. 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 has a market cap of $184.59 billion, a P/E ratio of 17.26, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.97. The company’s 50-day moving average price is $24.52 and its two-hundred day moving average price is $22.96.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

T has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Citigroup raised their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Scotiabank boosted their target price on AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 29th. Finally, Sanford C. Bernstein increased their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Company 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.