Ironwood Investment Counsel LLC Cuts Position in AT&T Inc. (NYSE:T)

Ironwood Investment Counsel LLC trimmed its position in AT&T Inc. (NYSE:T) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 109,289 shares of the technology company’s stock after selling 1,238 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in AT&T were worth $2,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in T. Geode Capital Management LLC grew its position in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares in the last quarter. FMR LLC lifted its position in AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after acquiring an additional 1,149,688 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of AT&T by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 53,057,676 shares of the technology company’s stock worth $1,208,123,000 after acquiring an additional 414,984 shares during the last quarter. Finally, Amundi lifted its position in AT&T by 19.8% during the 4th quarter. Amundi now owns 33,963,826 shares of the technology company’s stock worth $753,318,000 after acquiring an additional 5,614,168 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T opened at $26.09 on Friday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $187.24 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The stock’s 50-day simple moving average is $24.59 and its 200 day simple moving average is $22.98.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Sanford C. Bernstein raised their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. UBS Group lifted their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $28.00 in a report on Monday, December 16th. Royal Bank of Canada raised their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. One investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.74.

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.