Foundation Wealth Management LLC PA Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Foundation Wealth Management LLC PA cut its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 64.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,169 shares of the technology company's stock after selling 12,725 shares during the quarter. Foundation Wealth Management LLC PA's holdings in AT&T were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC grew its position in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in AT&T by 1.0% during the 4th quarter. Wealthspire Advisors LLC now owns 110,180 shares of the technology company's stock valued at $2,509,000 after buying an additional 1,130 shares in the last quarter. MONECO Advisors LLC increased its position in shares of AT&T by 46.0% during the fourth quarter. MONECO Advisors LLC now owns 64,407 shares of the technology company's stock valued at $1,467,000 after buying an additional 20,285 shares during the period. World Equity Group Inc. lifted its holdings in shares of AT&T by 11.3% in the fourth quarter. World Equity Group Inc. now owns 11,525 shares of the technology company's stock worth $262,000 after buying an additional 1,168 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of AT&T in the fourth quarter valued at approximately $1,639,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 1.2%

Shares of T traded down $0.35 during trading hours on Wednesday, hitting $27.93. The company had a trading volume of 24,154,594 shares, compared to its average volume of 36,467,475. AT&T Inc. has a 52-week low of $18.14 and a 52-week 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 stock's 50 day moving average price is $27.57 and its 200 day moving average price is $25.86. The firm has a market cap of $200.97 billion, a P/E ratio of 17.13, a P/E/G ratio of 4.00 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (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 company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. AT&T's revenue was up 2.0% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

Wall Street Analyst Weigh In

T has been the topic of a number of analyst reports. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. TD Securities upped their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. Scotiabank reissued an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Finally, Royal Bank Of Canada lifted their price target on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $28.76.

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.