Envestnet Portfolio Solutions Inc. Has $11.96 Million Stock Position in AT&T Inc. (NYSE:T)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 16.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 422,800 shares of the technology company's stock after purchasing an additional 58,470 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in AT&T were worth $11,957,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new stake in AT&T in the 4th quarter worth $25,000. Capital A Wealth Management LLC acquired a new stake in AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in AT&T during the fourth quarter valued at about $27,000. Marshall Investment Management LLC acquired a new position in AT&T in the 4th quarter valued at approximately $28,000. Finally, Tradewinds Capital Management LLC raised its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after acquiring an additional 430 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on T. Barclays lifted their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Morgan Stanley reiterated an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Scotiabank restated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Williams Trading set a $30.00 price objective on shares of AT&T in a report on Thursday, April 24th. Finally, Evercore ISI lifted their target price on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average target price of $28.76.

AT&T Price Performance

Shares of AT&T stock traded up $0.13 during trading on Friday, reaching $27.79. The company's stock had a trading volume of 51,458,475 shares, compared to its average volume of 36,717,337. The stock has a 50-day moving average price of $27.51 and a two-hundred day moving average price of $25.76. The stock has a market capitalization of $199.96 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 3.85 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a one year low of $17.90 and a one year high of $29.03.

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