FineMark National Bank & Trust Has $730,000 Position in AT&T Inc. (NYSE:T)

FineMark National Bank & Trust grew its holdings in AT&T Inc. (NYSE:T) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,057 shares of the technology company’s stock after buying an additional 549 shares during the quarter. FineMark National Bank & Trust’s holdings in AT&T were worth $730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in AT&T during the 4th quarter worth about $14,700,000. Franklin Resources Inc. boosted its stake in AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp grew its holdings in AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after acquiring an additional 21,927 shares during the period. Fortress Financial Solutions LLC acquired a new position in AT&T in the fourth quarter valued at about $691,000. Finally, West Family Investments Inc. boosted its holdings in AT&T by 70.4% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 1.3 %

Shares of T opened at $27.30 on Wednesday. The firm has a market cap of $195.96 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. 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 Inc. has a 52 week low of $15.94 and a 52 week high of $27.97. The firm’s 50-day simple moving average is $25.35 and its 200 day simple moving average is $23.40.

AT&T (NYSE:T) last posted its earnings results 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 return on equity of 13.97% and a net margin of 8.95%. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of 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 report on Monday, December 16th. Sanford C. Bernstein raised their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Royal Bank of Canada upped their price target on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Argus upgraded 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 Thursday, January 16th. Finally, Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $26.79.

About AT&T

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.