Envestnet Portfolio Solutions Inc. Cuts Stock Position in AT&T Inc. (NYSE:T)

Envestnet Portfolio Solutions Inc. trimmed its position in AT&T Inc. (NYSE:T) by 14.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 364,330 shares of the technology company’s stock after selling 61,580 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AT&T were worth $8,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of T. Legacy Investment Solutions LLC acquired a new position in AT&T during the 3rd quarter worth approximately $25,000. Marshall Investment Management LLC acquired a new position in AT&T during the 4th quarter worth approximately $28,000. YANKCOM Partnership acquired a new position in AT&T during the 4th quarter worth approximately $30,000. Tradewinds Capital Management LLC increased its position in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new position in AT&T during the 4th quarter worth approximately $34,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE:T opened at $26.87 on Tuesday. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97. The business’s fifty day moving average price is $24.75 and its two-hundred day moving average price is $23.13. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market cap of $192.86 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on T shares. Barclays boosted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a research note on Thursday, February 13th. Sanford C. Bernstein raised their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, UBS Group raised their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.74.

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.