AT&T Inc. (T) Position Boosted by Affinity Wealth Management

Affinity Wealth Management boosted its position in shares of AT&T Inc. (NYSE:T) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,446 shares of the technology company’s stock after buying an additional 146 shares during the period. AT&T comprises 0.4% of Affinity Wealth Management’s investment portfolio, making the stock its 16th largest position. Affinity Wealth Management’s holdings in AT&T were worth $725,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in AT&T during the fourth quarter worth approximately $2,416,759,000. Asset Management One Co. Ltd. increased its stake in AT&T by 731.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 10,876,186 shares of the technology company’s stock worth $462,693,000 after buying an additional 9,568,534 shares in the last quarter. State Street Corp increased its stake in AT&T by 3.0% in the fourth quarter. State Street Corp now owns 266,097,072 shares of the technology company’s stock worth $11,317,116,000 after buying an additional 7,784,839 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in AT&T during the fourth quarter worth about $319,537,000. Finally, Westwood Holdings Group Inc. increased its stake in AT&T by 2,630.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,225,260 shares of the technology company’s stock worth $137,171,000 after buying an additional 3,107,120 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Institutional Ownership by Quarter for AT&T (NYSE:T)

AT&T Inc. (NYSE:T) opened at 38.96 on Friday. AT&T Inc. has a 12 month low of $36.10 and a 12 month high of $43.89. The company’s 50 day moving average is $38.54 and its 200 day moving average is $40.62. The stock has a market cap of $239.53 billion, a PE ratio of 19.05 and a beta of 0.48.

AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, April 25th. The technology company reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. AT&T had a net margin of 7.77% and a return on equity of 14.22%. The company had revenue of $39.40 billion during the quarter, compared to analyst estimates of $40.50 billion. During the same quarter last year, the business posted $0.72 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post $2.90 EPS for the current fiscal year.

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A number of analysts have recently issued reports on the stock. Royal Bank Of Canada set a $42.00 price objective on shares of AT&T and gave the stock a “hold” rating in a report on Saturday, May 20th. Instinet reaffirmed a “buy” rating and set a $45.00 price objective (down from $46.00) on shares of AT&T in a report on Sunday, April 2nd. ValuEngine downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Drexel Hamilton reaffirmed a “hold” rating on shares of AT&T in a report on Friday, June 2nd. Finally, Vetr downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $39.55 price objective for the company. in a report on Tuesday, May 16th. Twenty analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. AT&T has a consensus rating of “Hold” and a consensus target price of $44.16.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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