8,971 Shares in AT&T Inc. (NYSE:T) Acquired by Altus Wealth Group LLC

Altus Wealth Group LLC bought a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,971 shares of the technology company’s stock, valued at approximately $204,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. Bank of New York Mellon Corp lifted its stake in AT&T by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after buying an additional 5,649,277 shares in the last quarter. FMR LLC boosted its holdings in shares of 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 buying an additional 1,149,688 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of AT&T by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 53,057,676 shares of the technology company’s stock worth $1,208,123,000 after acquiring an additional 414,984 shares in the last quarter. Finally, Amundi raised its holdings in shares of AT&T by 19.8% during the fourth quarter. Amundi now owns 33,963,826 shares of the technology company’s stock valued at $753,318,000 after acquiring an additional 5,614,168 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE T opened at $26.61 on Friday. The firm has a market capitalization of $190.98 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.00 and a beta of 0.56. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97. The business has a fifty day simple moving average of $24.66 and a 200 day simple moving average of $23.06. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. Oppenheimer began coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Scotiabank upped their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their target price on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.74.

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.