Congress Wealth Management LLC DE Decreases Stock Position in AT&T Inc. (NYSE:T)

Congress Wealth Management LLC DE lowered its position in shares of AT&T Inc. (NYSE:T) by 36.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,081 shares of the technology company’s stock after selling 70,966 shares during the period. Congress Wealth Management LLC DE’s holdings in AT&T were worth $2,871,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in AT&T in the 3rd quarter worth $25,000. Marshall Investment Management LLC acquired a new position in shares of AT&T in the fourth quarter worth about $28,000. YANKCOM Partnership purchased a new position in AT&T in the fourth quarter valued at about $30,000. Tradewinds Capital Management LLC grew its stake in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new stake in AT&T during the 4th quarter worth approximately $34,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 1.2 %

Shares of NYSE:T opened at $27.65 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company’s 50-day moving average price is $25.46 and its 200 day moving average price is $23.43. The company has a market cap of $198.48 billion, a PE ratio of 18.56, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.97.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays raised their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. UBS Group boosted their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada increased their target price on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.79.

AT&T Profile

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.