Horizon Kinetics Asset Management LLC Takes Position in AT&T Inc. (NYSE:T)

Horizon Kinetics Asset Management LLC purchased a new position in AT&T Inc. (NYSE:T) during the fourth quarter, HoldingsChannel reports. The fund purchased 10,400 shares of the technology company’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. boosted its position in AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares in the last quarter. Bank of New York Mellon Corp raised its position in AT&T by 7.1% during the fourth 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 during the last quarter. Amundi lifted its stake in AT&T by 19.8% in the 4th quarter. Amundi now owns 33,963,826 shares of the technology company’s stock valued at $753,318,000 after buying an additional 5,614,168 shares in the last quarter. Geode Capital Management LLC lifted 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 acquiring an additional 3,630,972 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new position in AT&T in the 4th quarter valued at about $65,288,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

AT&T stock opened at $26.87 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97. The stock’s 50 day moving average price is $24.75 and its 200 day moving average price is $23.13. The firm has a market capitalization of $192.86 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on T. 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. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group lifted their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Finally, Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.74.

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.