TrueMark Investments LLC Boosts Stake in AT&T Inc. (NYSE:T)

TrueMark Investments LLC grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 271.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 439,897 shares of the technology company's stock after acquiring an additional 321,434 shares during the period. AT&T accounts for approximately 3.3% of TrueMark Investments LLC's investment portfolio, making the stock its 2nd biggest holding. TrueMark Investments LLC's holdings in AT&T were worth $12,440,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in AT&T by 1.0% during the 4th 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 grew its stake in shares of AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after buying an additional 2,640,644 shares during the period. GQG Partners LLC grew its stake in shares of AT&T by 37.3% in 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. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after buying an additional 5,649,277 shares during the period. Finally, Norges Bank acquired a new stake in shares of AT&T in the 4th quarter valued at about $1,858,418,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of AT&T stock traded up $0.46 during mid-day trading on Monday, hitting $28.23. 32,918,838 shares of the stock were exchanged, compared to its average volume of 36,577,372. AT&T Inc. has a 12 month low of $18.14 and a 12 month high of $29.03. The company has a 50-day simple moving average of $27.55 and a 200 day simple moving average of $25.84. 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 company has a market capitalization of $203.13 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.87 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last posted 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). The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Royal Bank Of Canada raised their target price on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $28.76.

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.