Financial Counselors Inc. Sells 1,043 Shares of AT&T Inc. (NYSE:T)

Financial Counselors Inc. reduced its stake in AT&T Inc. (NYSE:T) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,645 shares of the technology company’s stock after selling 1,043 shares during the quarter. Financial Counselors Inc.’s holdings in AT&T were worth $1,905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. 1620 Investment Advisors Inc. increased its stake in AT&T by 1.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock valued at $596,000 after purchasing an additional 421 shares in the last quarter. Tradewinds Capital Management LLC grew its holdings in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the last quarter. Whittier Trust Co. increased its position in shares of AT&T by 0.7% during the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock valued at $1,352,000 after acquiring an additional 433 shares in the last quarter. Wealthstream Advisors Inc. raised its holdings in AT&T by 3.7% in the 4th quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after acquiring an additional 444 shares during the last quarter. Finally, Northeast Investment Management lifted its position in AT&T by 0.9% in the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after acquiring an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on T shares. Royal Bank of Canada boosted their price target on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Citigroup boosted their price objective 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. Finally, The Goldman Sachs Group raised their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, five have given 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Price Performance

Shares of NYSE:T opened at $28.20 on Friday. The company has a market capitalization of $202.41 billion, a P/E ratio of 18.92, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $28.42. The firm’s 50 day simple moving average is $25.59 and its two-hundred day simple moving average is $23.47. 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 issued its earnings results 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%. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

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.