Norges Bank Takes Position in AT&T Inc. (NYSE:T)

Norges Bank acquired a new stake in AT&T Inc. (NYSE:T) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 81,616,938 shares of the technology company’s stock, valued at approximately $1,858,418,000.

Several other hedge funds have also added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the third quarter worth approximately $25,000. Marshall Investment Management LLC bought a new stake in shares of AT&T during the fourth quarter worth $28,000. YANKCOM Partnership acquired a new position in AT&T in the 4th quarter worth about $30,000. Tradewinds Capital Management LLC raised its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of AT&T during the fourth quarter worth $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein raised their price target 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. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, January 29th. Finally, UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One investment 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Trading Up 1.2 %

Shares of AT&T stock opened at $27.65 on Thursday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.97. The firm has a market capitalization of $198.48 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 3.00 and a beta of 0.56. The stock has a 50 day moving average of $25.46 and a 200 day moving average of $23.43. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) 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%. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T 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.