Mystic Asset Management Inc. Buys Shares of 14,626 AT&T Inc. (NYSE:T)

Mystic Asset Management Inc. bought a new stake in AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,626 shares of the technology company’s stock, valued at approximately $333,000.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the third quarter valued at $25,000. Marshall Investment Management LLC purchased a new stake in shares of AT&T in the fourth quarter valued at $28,000. Tradewinds Capital Management LLC raised 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 worth $30,000 after acquiring an additional 430 shares in the last quarter. YANKCOM Partnership purchased a new stake in shares of AT&T during the fourth quarter worth $30,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on T. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday, January 16th. Sanford C. Bernstein increased their price objective on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Scotiabank increased their price objective 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 upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Trading Down 0.8 %

Shares of NYSE:T opened at $26.60 on Wednesday. The company has a market cap of $190.97 billion, a P/E ratio of 17.86, a P/E/G ratio of 3.00 and a beta of 0.56. The stock’s 50-day moving average is $24.84 and its 200-day moving average is $23.18. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $27.97. 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 (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (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%. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share 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.