SlateStone Wealth LLC Acquires 3,540 Shares of AT&T Inc. (NYSE:T)

SlateStone Wealth LLC grew its holdings in AT&T Inc. (NYSE:T) by 30.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,254 shares of the technology company’s stock after purchasing an additional 3,540 shares during the period. SlateStone Wealth LLC’s holdings in AT&T were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GWN Securities Inc. bought a new stake in AT&T during the 4th quarter worth $1,525,000. Altus Wealth Group LLC bought a new stake in AT&T during the 4th quarter worth $204,000. Sovereign Investment Advisors LLC bought a new stake in AT&T during the 4th quarter worth $478,000. Harbour Investments Inc. grew its position in AT&T by 1.5% during the 4th quarter. Harbour Investments Inc. now owns 144,254 shares of the technology company’s stock worth $3,285,000 after acquiring an additional 2,068 shares during the last quarter. Finally, Gitterman Wealth Management LLC grew its position in AT&T by 31.7% during the 4th quarter. Gitterman Wealth Management LLC now owns 30,752 shares of the technology company’s stock worth $700,000 after acquiring an additional 7,405 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 2.0 %

T stock opened at $26.61 on Monday. The stock’s 50 day simple moving average is $24.66 and its 200 day simple moving average is $23.08. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market cap of $190.98 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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%. On average, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on T. Oppenheimer began coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Tigress Financial upped their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Citigroup upped their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group upped their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Sanford C. Bernstein upped their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AT&T currently has an average 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.