Korea Investment CORP Acquires 798,622 Shares of AT&T Inc. (NYSE:T)

Korea Investment CORP raised its holdings in AT&T Inc. (NYSE:T) by 17.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,369,334 shares of the technology company’s stock after purchasing an additional 798,622 shares during the period. Korea Investment CORP owned approximately 0.07% of AT&T worth $122,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in T. GQG Partners LLC increased its position in shares of AT&T by 37.3% in the fourth 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 period. Assetmark Inc. increased its holdings in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after buying an additional 9,719,036 shares during the period. Vanguard Group Inc. raised its position in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after buying an additional 6,220,442 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Finally, Amundi boosted its position in shares of AT&T by 19.8% during the 4th quarter. Amundi now owns 33,963,826 shares of the technology company’s stock worth $753,318,000 after acquiring an additional 5,614,168 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group boosted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Scotiabank boosted their price target on AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research note on Thursday, February 13th. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Price Performance

AT&T stock opened at $27.65 on Thursday. The stock’s 50 day moving average is $25.46 and its 200 day moving average is $23.43. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97. The firm has a market cap of $198.48 billion, a P/E ratio of 18.56, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS 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.