Harvest Fund Management Co. Ltd Increases Stake in AT&T Inc. (NYSE:T)

Harvest Fund Management Co. Ltd lifted its stake in shares of AT&T Inc. (NYSE:T) by 106.9% during the 4th quarter, HoldingsChannel reports. The fund owned 156,339 shares of the technology company’s stock after acquiring an additional 80,779 shares during the period. Harvest Fund Management Co. Ltd’s holdings in AT&T were worth $3,561,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of T. TrinityPoint Wealth LLC purchased a new position in shares of AT&T during the 3rd quarter worth about $206,000. AMG National Trust Bank raised its holdings in AT&T by 130.8% in the third quarter. AMG National Trust Bank now owns 146,547 shares of the technology company’s stock valued at $3,224,000 after buying an additional 83,048 shares during the period. Quest Partners LLC raised its holdings in AT&T by 2,555.9% in the third quarter. Quest Partners LLC now owns 100,392 shares of the technology company’s stock valued at $2,209,000 after buying an additional 96,612 shares during the period. Joseph Group Capital Management raised its holdings in AT&T by 4.5% in the third quarter. Joseph Group Capital Management now owns 186,976 shares of the technology company’s stock valued at $4,113,000 after buying an additional 7,991 shares during the period. Finally, New England Asset Management Inc. raised its holdings in AT&T by 24.5% in the third quarter. New England Asset Management Inc. now owns 315,940 shares of the technology company’s stock valued at $6,951,000 after buying an additional 62,075 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the topic of several research reports. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. One research 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 MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T Stock Down 0.8 %

T stock opened at $26.60 on Wednesday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $190.97 billion, a P/E ratio of 17.86, a PEG ratio of 3.00 and a beta of 0.56. The firm has a 50 day simple moving average of $24.84 and a 200-day simple moving average of $23.18.

AT&T (NYSE:T) last released 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 net margin of 8.95% and a return on equity of 13.97%. On average, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

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.