Sequoia Financial Advisors LLC Grows Position in AT&T Inc. (NYSE:T)

Sequoia Financial Advisors LLC increased its position in shares of AT&T Inc. (NYSE:T) by 53.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 381,619 shares of the technology company’s stock after acquiring an additional 133,627 shares during the period. Sequoia Financial Advisors LLC’s holdings in AT&T were worth $8,689,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in AT&T during the 4th quarter worth about $14,700,000. Swiss National Bank increased its holdings in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp increased its holdings in shares of AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after acquiring an additional 21,927 shares during the last quarter. Finally, Caprock Group LLC increased its holdings in shares of AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on T. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. UBS Group raised their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Finally, BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Price Performance

T stock opened at $25.72 on Thursday. The stock has a 50-day moving average price of $24.52 and a two-hundred day moving average price of $22.96. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97. 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 company has a market cap of $184.59 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted its quarterly 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 return on equity of 13.97% and a net margin of 8.95%. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current 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.