AT&T Inc. (NYSE:T) Shares Sold by King Wealth Management Group

King Wealth Management Group cut its holdings in shares of AT&T Inc. (NYSE:T) by 36.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,078 shares of the technology company’s stock after selling 6,222 shares during the quarter. King Wealth Management Group’s holdings in AT&T were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Tradewinds Capital Management LLC lifted its stake in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares during the last quarter. Wealthstream Advisors Inc. raised its holdings in shares of AT&T by 3.7% in the 4th quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after purchasing an additional 444 shares in the last quarter. Northeast Investment Management lifted its position in shares of AT&T by 0.9% during the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after purchasing an additional 451 shares during the last quarter. Chesapeake Wealth Management grew its stake in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. increased its holdings in AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Tigress Financial upped their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 29th. Barclays increased their price target 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. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, UBS Group lifted their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.74.

AT&T Stock Performance

NYSE:T opened at $26.09 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market cap of $187.24 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The firm’s fifty day moving average price is $24.59 and its 200 day moving average price is $22.98. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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, sell-side analysts expect that AT&T Inc. will post 2.14 EPS 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.