Keudell Morrison Wealth Management Lowers Position in AT&T Inc. (NYSE:T)

Keudell Morrison Wealth Management lessened its holdings in AT&T Inc. (NYSE:T) by 4.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,659 shares of the technology company’s stock after selling 3,699 shares during the period. Keudell Morrison Wealth Management’s holdings in AT&T were worth $2,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Next Level Private LLC increased its stake in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after acquiring an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC increased its stake in AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after acquiring an additional 384 shares during the last quarter. Kozak & Associates Inc. increased its stake in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after acquiring an additional 398 shares during the last quarter. Silver Oak Securities Incorporated increased its stake in AT&T by 0.3% in the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company’s stock valued at $3,222,000 after acquiring an additional 398 shares during the last quarter. Finally, Firethorn Wealth Partners LLC increased its stake in AT&T by 4.1% in the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock valued at $286,000 after acquiring an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $28.23 on Tuesday. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.03. The firm has a market cap of $203.13 billion, a P/E ratio of 17.32, a PEG ratio of 3.87 and a beta of 0.41. The company has a 50 day moving average of $27.55 and a 200 day moving average of $25.84. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. AT&T’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on T. UBS Group reaffirmed a “buy” rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Tigress Financial raised their price objective on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Evercore ISI raised their price objective on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Finally, Scotiabank reissued an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $28.76.

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.