21,475 Shares in AT&T Inc. (NYSE:T) Acquired by Blackston Financial Advisory Group LLC

Blackston Financial Advisory Group LLC bought a new stake in AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,475 shares of the technology company’s stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its stake in shares of AT&T by 85,003.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after purchasing an additional 76,746,649 shares during the last quarter. Norges Bank bought a new stake in shares of AT&T in the 4th quarter valued at about $1,229,499,000. Ameriprise Financial Inc. increased its stake in shares of AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after buying an additional 34,189,954 shares during the period. FMR LLC raised its position in shares of AT&T by 130.5% during the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after acquiring an additional 32,558,342 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after acquiring an additional 29,769,976 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research analyst reports. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Barclays lifted their price target 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. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Friday, January 19th. Tigress Financial boosted their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.61.

AT&T Stock Performance

NYSE T opened at $17.58 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.99. The firm has a market cap of $125.71 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 2.59 and a beta of 0.57. The company has a fifty day moving average price of $17.08 and a 200-day moving average price of $16.26.

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

AT&T 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.