BlackDiamond Wealth Management LLC Makes New $250,000 Investment in AT&T Inc. (NYSE:T)

BlackDiamond Wealth Management LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 10,971 shares of the technology company’s stock, valued at approximately $250,000.

Several other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of AT&T in the fourth quarter valued at approximately $14,700,000. Franklin Resources Inc. increased its holdings in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the period. Consolidated Planning Corp increased its holdings in shares of AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares during the period. Caprock Group LLC increased its holdings in shares of AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the period. Finally, Fortress Financial Solutions LLC acquired a new position in shares of AT&T in the fourth quarter valued at approximately $691,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on T. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. Barclays lifted their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Stock Up 1.1 %

Shares of NYSE:T opened at $26.87 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $27.97. The stock’s fifty day simple moving average is $24.75 and its 200-day simple moving average is $23.13. The company has a market capitalization of $192.86 billion, a P/E ratio of 18.03, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts forecast 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.