Symphony Financial Ltd. Co. Decreases Stock Position in AT&T Inc. (NYSE:T)

Symphony Financial Ltd. Co. reduced its position in AT&T Inc. (NYSE:T - Free Report) by 47.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,290 shares of the technology company's stock after selling 48,943 shares during the quarter. Symphony Financial Ltd. Co.'s holdings in AT&T were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after acquiring an additional 6,220,442 shares during the period. Geode Capital Management LLC boosted its holdings in shares of AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after acquiring an additional 2,640,644 shares during the period. GQG Partners LLC boosted its holdings in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Finally, Norges Bank bought a new position in shares of AT&T in the fourth quarter worth $1,858,418,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Barclays lifted their price objective on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Evercore ISI lifted their price objective on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 price objective on AT&T in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada lifted their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and an average price target of $28.76.

AT&T Trading Up 1.7%

NYSE T opened at $28.23 on Tuesday. The company has a market capitalization of $203.13 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.87 and a beta of 0.41. The stock's 50-day simple moving average is $27.55 and its two-hundred day simple moving average is $25.84. 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 Inc. has a twelve month low of $18.14 and a twelve month high of $29.03.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. Research 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.

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