Corebridge Financial Inc. Decreases Stock Position in AT&T Inc. (NYSE:T)

Corebridge Financial Inc. decreased its position in shares of AT&T Inc. (NYSE:T) by 4.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,844,051 shares of the technology company’s stock after selling 77,799 shares during the quarter. Corebridge Financial Inc.’s holdings in AT&T were worth $41,989,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. lifted its position in AT&T by 1.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock valued at $596,000 after purchasing an additional 421 shares during the last quarter. Tradewinds Capital Management LLC raised its position in shares of 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 buying an additional 430 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of AT&T by 0.7% in the 4th quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock valued at $1,352,000 after acquiring an additional 433 shares during the last quarter. Wealthstream Advisors Inc. grew its position in AT&T by 3.7% in the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after acquiring an additional 444 shares in the last quarter. Finally, Northeast Investment Management increased its stake in AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 451 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

T has been the topic of several recent research reports. Tigress Financial increased their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Scotiabank raised their target price 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. Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.79.

AT&T Trading Up 0.9 %

Shares of NYSE:T opened at $27.04 on Monday. The company has a market capitalization of $194.06 billion, a PE ratio of 18.14, a P/E/G ratio of 3.00 and a beta of 0.56. 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 Inc. has a 12-month low of $15.94 and a 12-month high of $27.97. The business’s fifty day simple moving average is $25.13 and its 200-day simple moving average is $23.32.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping 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%. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Company 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.