Wallace Advisory Group LLC Purchases 14,418 Shares of AT&T Inc. (NYSE:T)

Wallace Advisory Group LLC increased its stake in shares of AT&T Inc. (NYSE:TFree Report) by 54.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,870 shares of the technology company’s stock after acquiring an additional 14,418 shares during the quarter. Wallace Advisory Group LLC’s holdings in AT&T were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of AT&T by 2.2% in the 2nd quarter. BlackRock Inc. now owns 534,767,576 shares of the technology company’s stock valued at $8,529,543,000 after purchasing an additional 11,639,588 shares during the period. State Street Corp increased its position in AT&T by 3.4% during the 2nd quarter. State Street Corp now owns 297,085,864 shares of the technology company’s stock valued at $4,738,520,000 after buying an additional 9,781,352 shares in the last quarter. Newport Trust Company LLC increased its position in AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after buying an additional 673,043 shares in the last quarter. Geode Capital Management LLC increased its position in AT&T by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 138,173,010 shares of the technology company’s stock valued at $2,198,463,000 after buying an additional 3,785,896 shares in the last quarter. Finally, Morgan Stanley increased its position in AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after buying an additional 29,769,976 shares in the last quarter. 53.65% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of NYSE:T traded up $0.04 during mid-day trading on Friday, reaching $17.05. The stock had a trading volume of 93,101,597 shares, compared to its average volume of 40,098,090. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market cap of $121.96 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 2.56 and a beta of 0.57. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.99. The business’s 50 day moving average price is $17.02 and its 200 day moving average price is $16.12.

AT&T (NYSE:TGet Free Report) last posted its 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 firm had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. AT&T’s quarterly revenue was up 2.2% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a report on Monday. TheStreet raised AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Finally, Tigress Financial lifted their price objective on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.61.

View Our Latest Stock Analysis on T

AT&T Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.