L.M. Kohn & Company Has $562,000 Stake in AT&T Inc. (NYSE:T)

L.M. Kohn & Company trimmed its holdings in AT&T Inc. (NYSE:T - Free Report) by 31.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,863 shares of the technology company's stock after selling 9,070 shares during the period. L.M. Kohn & Company's holdings in AT&T were worth $562,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of AT&T in the 4th quarter worth about $1,858,418,000. GQG Partners LLC raised its holdings in shares of AT&T by 37.3% during 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 buying an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AT&T by 31.8% during 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 buying an additional 12,881,578 shares during the period. Northern Trust Corp raised its holdings in shares of AT&T by 16.3% during 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 buying an additional 10,945,679 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock valued at $225,741,000 after buying an additional 9,719,036 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Wells Fargo & Company boosted their target price on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. UBS Group reiterated a "buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Finally, Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T has a consensus rating of "Moderate Buy" and a consensus price target of $28.76.

AT&T Stock Performance

AT&T stock traded up $0.46 during midday trading on Monday, reaching $28.23. 32,918,838 shares of the company's stock were exchanged, compared to its average volume of 36,577,334. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The firm has a market cap of $203.13 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 3.87 and a beta of 0.41. The stock's 50-day simple moving average is $27.55 and its 200 day simple moving average is $25.84.

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. On average, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

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.