Foundation Wealth Management LLC PA Invests $453,000 in AT&T Inc. (NYSE:T)

Foundation Wealth Management LLC PA purchased a new stake in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,894 shares of the technology company’s stock, valued at approximately $453,000.

Several other institutional investors also recently modified their holdings of T. Loomis Sayles & Co. L P grew its holdings in shares of AT&T by 908.3% in the third quarter. Loomis Sayles & Co. L P now owns 42,309 shares of the technology company’s stock worth $931,000 after acquiring an additional 38,113 shares during the period. FMR LLC boosted its position in AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Avestar Capital LLC grew its stake in shares of AT&T by 10.7% during the 3rd quarter. Avestar Capital LLC now owns 36,892 shares of the technology company’s stock valued at $812,000 after purchasing an additional 3,556 shares during the period. Townsquare Capital LLC increased its position in shares of AT&T by 1.1% during the 3rd quarter. Townsquare Capital LLC now owns 546,710 shares of the technology company’s stock valued at $12,028,000 after purchasing an additional 6,071 shares during the last quarter. Finally, Bridgewater Associates LP lifted its stake in shares of AT&T by 38.1% in the 3rd quarter. Bridgewater Associates LP now owns 1,289,648 shares of the technology company’s stock worth $28,372,000 after purchasing an additional 355,527 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on T shares. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Scotiabank boosted their price target on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Royal Bank of Canada boosted their price objective on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Stock Performance

NYSE:T opened at $27.65 on Thursday. The company has a market cap of $198.48 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.97. The stock’s 50 day simple moving average is $25.46 and its two-hundred day simple moving average is $23.43. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share 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.