Franklin Street Advisors Inc. NC Cuts Stake in AT&T Inc. (NYSE:T)

Franklin Street Advisors Inc. NC lowered its position in AT&T Inc. (NYSE:T) by 18.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,711 shares of the technology company’s stock after selling 6,366 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in AT&T were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of T. Uncommon Cents Investing LLC grew its holdings in shares of AT&T by 11.3% during the fourth quarter. Uncommon Cents Investing LLC now owns 28,265 shares of the technology company’s stock valued at $474,000 after purchasing an additional 2,877 shares during the last quarter. Ballast Inc. lifted its stake in AT&T by 5.0% during the fourth quarter. Ballast Inc. now owns 43,433 shares of the technology company’s stock valued at $729,000 after purchasing an additional 2,079 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of AT&T by 34.3% in the 4th quarter. Ritholtz Wealth Management now owns 57,607 shares of the technology company’s stock worth $967,000 after acquiring an additional 14,723 shares during the last quarter. Trueblood Wealth Management LLC acquired a new stake in shares of AT&T during the fourth quarter valued at approximately $219,000. Finally, FLC Capital Advisors lifted its stake in AT&T by 32.9% in the 4th quarter. FLC Capital Advisors now owns 25,953 shares of the technology company’s stock worth $435,000 after acquiring an additional 6,428 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $17.60 on Friday. The stock has a fifty day moving average of $17.11 and a 200-day moving average of $16.27. The stock has a market capitalization of $125.89 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 2.65 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.99.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on T shares. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. Finally, Wells Fargo & Company raised their target price on AT&T from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $21.61.

AT&T Profile

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.