56,981 Shares in AT&T Inc. (NYSE:T) Bought by Advisor Resource Council

Advisor Resource Council purchased a new stake in AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 56,981 shares of the technology company's stock, valued at approximately $1,503,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. Norges Bank acquired a new stake in shares of AT&T in the 4th quarter valued at about $1,858,418,000. GQG Partners LLC raised its stake in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the period. Northern Trust Corp grew its holdings in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock valued at $225,741,000 after acquiring an additional 9,719,036 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Up 0.5%

Shares of NYSE:T opened at $27.79 on Friday. AT&T Inc. has a 12-month low of $18.07 and a 12-month high of $29.03. The stock has a market cap of $199.96 billion, a PE ratio of 17.05, a P/E/G ratio of 3.85 and a beta of 0.41. The business has a 50 day moving average of $27.53 and a 200-day moving average of $25.78. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company's revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

T has been the topic of a number of recent research reports. TD Securities lifted their target price on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Oppenheimer lifted their target price on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Wells Fargo & Company lifted their target price on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and an average price target of $28.76.

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.

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