Tocqueville Asset Management L.P. Trims Stock Holdings in AT&T Inc. (NYSE:T)

Tocqueville Asset Management L.P. lessened its stake in shares of AT&T Inc. (NYSE:T) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,804 shares of the technology company’s stock after selling 5,010 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in AT&T were worth $2,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the third quarter valued at $25,000. Marshall Investment Management LLC purchased a new stake in AT&T in the 4th quarter valued at about $28,000. Tradewinds Capital Management LLC grew its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the period. YANKCOM Partnership purchased a new position in shares of AT&T during the 4th quarter worth about $30,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T in the fourth quarter worth approximately $34,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on T. Tigress Financial upped their price target on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a research note on Thursday, February 13th. Citigroup lifted their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Scotiabank increased their target price on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Stock Down 0.8 %

Shares of AT&T stock opened at $26.60 on Wednesday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97. The company has a market capitalization of $190.97 billion, a PE ratio of 17.86, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The business has a 50-day moving average of $24.84 and a 200-day moving average of $23.18.

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%. As a group, equities analysts forecast that AT&T Inc. will post 2.14 EPS 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.