Field & Main Bank Acquires 7,450 Shares of AT&T Inc. (NYSE:T)

Field & Main Bank grew its stake in AT&T Inc. (NYSE:T) by 38.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,705 shares of the technology company’s stock after purchasing an additional 7,450 shares during the quarter. Field & Main Bank’s holdings in AT&T were worth $755,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in AT&T during the fourth quarter valued at approximately $1,858,418,000. GQG Partners LLC boosted its position in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after buying an additional 12,881,578 shares during the period. Northern Trust Corp increased its position in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after buying an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.3%

Shares of T stock opened at $28.29 on Wednesday. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.03. The stock has a market cap of $203.53 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 4.00 and a beta of 0.41. The firm’s 50-day moving average is $27.57 and its 200-day moving average is $25.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period last year, the firm earned $0.55 EPS. AT&T’s quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Ratings Changes

T has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price objective on AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. TD Securities increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Finally, Oppenheimer increased their target price on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.76.

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.