Lowe Brockenbrough & Co. Inc. Cuts Holdings in AT&T Inc. (NYSE:T)

Lowe Brockenbrough & Co. Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,098 shares of the technology company’s stock after selling 1,306 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in AT&T were worth $754,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in AT&T during the fourth quarter worth $14,700,000. Franklin Resources Inc. raised its position in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp lifted its stake in AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after buying an additional 21,927 shares in the last quarter. Fortress Financial Solutions LLC acquired a new stake in AT&T in the 4th quarter worth about $691,000. Finally, West Family Investments Inc. increased its stake in AT&T by 70.4% during the 4th quarter. West Family Investments Inc. now owns 37,961 shares of the technology company’s stock worth $864,000 after buying an additional 15,680 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on T. Royal Bank of Canada lifted their price target on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday. Sanford C. Bernstein lifted their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Oppenheimer began coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group increased their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.79.

AT&T Stock Performance

NYSE:T opened at $27.04 on Friday. 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 stock has a market capitalization of $194.06 billion, a P/E ratio of 18.14, a PEG ratio of 3.00 and a beta of 0.56. The company has a 50 day moving average price of $25.13 and a 200 day moving average price of $23.28. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.97.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current 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.