AT&T Inc. (NYSE:T) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,027,581 shares of the technology company's stock after selling 23,205 shares during the period. AT&T comprises approximately 1.0% of Moran Wealth Management LLC's portfolio, making the stock its 17th largest position. Moran Wealth Management LLC's holdings in AT&T were worth $29,060,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of T. Norges Bank purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $1,858,418,000. GQG Partners LLC grew its stake in shares of AT&T by 37.3% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AT&T by 31.8% in the fourth 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 buying an additional 12,881,578 shares during the last quarter. Northern Trust Corp raised its stake in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after buying an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after buying an additional 9,719,036 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Oppenheimer increased their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Tigress Financial raised their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Evercore ISI boosted their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Finally, UBS Group reaffirmed a "buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.76.

AT&T Stock Performance

Shares of NYSE T traded up $0.09 during mid-day trading on Tuesday, hitting $28.29. 25,998,018 shares of the company were exchanged, compared to its average volume of 39,117,121. The stock has a 50 day simple moving average of $27.55 and a 200-day simple moving average of $25.84. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.03. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The firm has a market cap of $203.53 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 3.87 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the business posted $0.55 EPS. The firm's revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast 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.