Evanson Asset Management LLC Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Evanson Asset Management LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 8.3% in the fourth quarter, Holdings Channel reports. The firm owned 19,279 shares of the technology company’s stock after selling 1,752 shares during the period. Evanson Asset Management LLC’s holdings in AT&T were worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Carmel Capital Partners LLC grew its holdings in AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton purchased a new stake in shares of AT&T in the 3rd quarter valued at $30,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T during the third quarter worth $30,000. FWL Investment Management LLC purchased a new stake in AT&T in the fourth quarter valued at $31,000. Finally, Financial Freedom LLC acquired a new stake in AT&T during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.3 %

Shares of T stock traded up $0.05 on Thursday, reaching $17.60. 33,453,327 shares of the stock were exchanged, compared to its average volume of 38,842,688. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.99. The firm has a 50 day moving average of $17.11 and a two-hundred day moving average of $16.27. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The stock has a market cap of $125.89 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.57.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Tigress Financial upped their target price on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Barclays boosted their target price on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Citigroup raised their price target on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Finally, Wells Fargo & Company lifted their price target on AT&T from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.61.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.