DnB Asset Management AS Grows Stock Position in AT&T Inc. (NYSE:T)

DnB Asset Management AS boosted its position in AT&T Inc. (NYSE:T) by 38.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,767,387 shares of the technology company’s stock after buying an additional 493,595 shares during the period. DnB Asset Management AS’s holdings in AT&T were worth $40,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of T. Loomis Sayles & Co. L P grew its holdings in AT&T by 908.3% during the third quarter. Loomis Sayles & Co. L P now owns 42,309 shares of the technology company’s stock worth $931,000 after acquiring an additional 38,113 shares during the period. Townsquare Capital LLC boosted its position in shares of AT&T by 1.1% during the 3rd quarter. Townsquare Capital LLC now owns 546,710 shares of the technology company’s stock worth $12,028,000 after purchasing an additional 6,071 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of AT&T by 38.1% during the 3rd quarter. Bridgewater Associates LP now owns 1,289,648 shares of the technology company’s stock worth $28,372,000 after purchasing an additional 355,527 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of AT&T by 9.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,174,000 shares of the technology company’s stock valued at $47,828,000 after purchasing an additional 184,900 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in shares of AT&T by 34.9% in the third quarter. CreativeOne Wealth LLC now owns 148,740 shares of the technology company’s stock valued at $3,272,000 after purchasing an additional 38,444 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on T shares. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Sanford C. Bernstein raised their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Barclays boosted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, January 29th. Finally, UBS Group boosted their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Stock Performance

NYSE T opened at $28.20 on Friday. The business’s 50-day moving average price is $25.59 and its 200 day moving average price is $23.47. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $28.42. The company has a market capitalization of $202.41 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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%. On average, 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.