Modern Wealth Management LLC Buys 6,794 Shares of AT&T Inc. (NYSE:T)

Modern Wealth Management LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 10.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,504 shares of the technology company’s stock after acquiring an additional 6,794 shares during the period. Modern Wealth Management LLC’s holdings in AT&T were worth $1,827,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of T. Legacy Investment Solutions LLC bought a new position in shares of AT&T in the 3rd quarter valued at about $25,000. Marshall Investment Management LLC acquired a new stake in AT&T in the 4th quarter valued at about $28,000. Tradewinds Capital Management LLC grew its holdings in 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 purchasing an additional 430 shares during the period. YANKCOM Partnership bought a new position in AT&T during the fourth quarter worth about $30,000. Finally, Endeavor Private Wealth Inc. acquired a new position in AT&T during the fourth quarter worth approximately $34,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on T. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. The Goldman Sachs Group raised their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Sanford C. Bernstein upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. DZ Bank upgraded shares of 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $26.79.

AT&T Trading Up 1.3 %

Shares of T stock opened at $27.30 on Wednesday. The stock 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. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.97. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a 50 day simple moving average of $25.35 and a 200 day simple moving average of $23.40.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal 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.