Harvest Fund Management Co. Ltd Grows Holdings in AT&T Inc. (NYSE:T)

Harvest Fund Management Co. Ltd boosted its holdings in AT&T Inc. (NYSE:T) by 106.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,339 shares of the technology company’s stock after purchasing an additional 80,779 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in AT&T were worth $3,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of T. Tradewinds Capital Management LLC raised its position in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares during the last quarter. Wealthstream Advisors Inc. raised its position in AT&T by 3.7% during the 4th quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after buying an additional 444 shares during the last quarter. Northeast Investment Management raised its position in AT&T by 0.9% during the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after buying an additional 451 shares during the last quarter. Chesapeake Wealth Management raised its position in AT&T by 1.9% during the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after buying an additional 460 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. raised its position in AT&T by 2.8% during the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after buying an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Scotiabank upped their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group upped their price target 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. Finally, Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.74.

AT&T Price Performance

Shares of NYSE T opened at $26.60 on Wednesday. The stock has a market cap of $190.97 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.97. The company’s 50-day moving average price is $24.84 and its 200 day moving average price is $23.18. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

About AT&T

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.