Evanson Asset Management LLC Cuts Position in AT&T Inc. (NYSE:T)

Evanson Asset Management LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,279 shares of the technology company’s stock after selling 1,752 shares during the quarter. Evanson Asset Management LLC’s holdings in AT&T were worth $324,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in T. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in AT&T by 1.2% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company’s stock worth $1,119,000 after purchasing an additional 547 shares in the last quarter. SMH Capital Advisors Inc. lifted its holdings in shares of AT&T by 1.8% in the 4th quarter. SMH Capital Advisors Inc. now owns 31,771 shares of the technology company’s stock valued at $585,000 after buying an additional 565 shares during the period. Kahn Brothers Group Inc. boosted its stake in shares of AT&T by 3.4% in the fourth quarter. Kahn Brothers Group Inc. now owns 17,329 shares of the technology company’s stock valued at $319,000 after buying an additional 575 shares in the last quarter. Schubert & Co boosted its stake in shares of AT&T by 2.0% in the third quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock valued at $486,000 after buying an additional 631 shares in the last quarter. Finally, Hancock Whitney Corp grew its holdings in AT&T by 0.9% during the first quarter. Hancock Whitney Corp now owns 74,780 shares of the technology company’s stock worth $1,439,000 after acquiring an additional 654 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays upped their price target on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Tigress Financial upped their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Friday, January 19th. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.61.

AT&T Stock Performance

Shares of T traded up $0.05 during trading hours on Thursday, reaching $17.60. 33,453,327 shares of the company’s stock traded hands, compared to its average volume of 38,842,688. The business’s fifty day simple moving average is $17.11 and its two-hundred day simple moving average is $16.27. The firm has a market capitalization of $125.89 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 2.59 and a beta of 0.57. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.99. 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 (NYSE:T) last released its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. AT&T’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 earnings per share. Analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

About AT&T

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.