Providence Capital Advisors LLC Buys 1,128 Shares of AT&T Inc. (NYSE:T)

Providence Capital Advisors LLC grew its position in AT&T Inc. (NYSE:T) by 0.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 184,748 shares of the technology company’s stock after purchasing an additional 1,128 shares during the period. Providence Capital Advisors LLC’s holdings in AT&T were worth $4,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in AT&T in the fourth quarter valued at approximately $1,858,418,000. GQG Partners LLC boosted its position in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. Assetmark Inc. boosted its position in shares of AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Vanguard Group Inc. increased its holdings in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after buying an additional 5,649,277 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Scotiabank upped their price target on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Tigress Financial upped their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Citigroup boosted their price target 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. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Stock Performance

T opened at $28.20 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market cap of $202.41 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $28.42. The business has a 50 day moving average of $25.59 and a 200-day moving average of $23.47.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating 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, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share 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.