AT&T Inc. (NYSE:T) Shares Bought by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. increased its stake in shares of AT&T Inc. (NYSE:T) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,193 shares of the technology company’s stock after purchasing an additional 8,709 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in AT&T were worth $6,608,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Flagship Wealth Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $214,000. Wealth Architects LLC raised its position in shares of AT&T by 11.2% during the 4th quarter. Wealth Architects LLC now owns 13,672 shares of the technology company’s stock worth $311,000 after purchasing an additional 1,373 shares during the last quarter. Horizon Kinetics Asset Management LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $237,000. Curio Wealth LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $90,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $1,093,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T opened at $26.61 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $190.98 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.00 and a beta of 0.56. The firm’s fifty day simple moving average is $24.66 and its 200 day simple moving average is $23.08. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on T shares. The Goldman Sachs Group lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Oppenheimer started coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Citigroup lifted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.74.

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.