6,996 Shares in AT&T Inc. (NYSE:T) Purchased by IMG Wealth Management Inc.

IMG Wealth Management Inc. purchased a new position in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,996 shares of the technology company’s stock, valued at approximately $159,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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. Amundi boosted its stake in shares of 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of AT&T during the 4th quarter worth approximately $65,288,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 2.0 %

Shares of AT&T stock opened at $26.61 on Monday. The company has a fifty day moving average price of $24.66 and a 200 day moving average price of $23.08. 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 Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The stock has a market cap of $190.98 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted 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%. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on T shares. Royal Bank of Canada lifted their price objective on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Scotiabank boosted their price target on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Tigress Financial boosted their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, UBS Group boosted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T 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.