Parallel Advisors LLC Purchases 20,485 Shares of AT&T Inc. (NYSE:T)

Parallel Advisors LLC increased its holdings in AT&T Inc. (NYSE:T) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,450 shares of the technology company’s stock after acquiring an additional 20,485 shares during the quarter. Parallel Advisors LLC’s holdings in AT&T were worth $3,722,000 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. Assetmark Inc. lifted its stake in AT&T by 4,986.1% in the fourth 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 during the period. Bank of New York Mellon Corp lifted its stake in AT&T by 7.1% in 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 period. Amundi lifted its stake in AT&T by 19.8% in the fourth 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. Geode Capital Management LLC lifted its stake in 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 worth $3,532,684,000 after acquiring an additional 3,630,972 shares during the period. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in AT&T in the fourth quarter worth $65,288,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on T shares. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. Finally, Barclays raised their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Price Performance

NYSE T opened at $26.87 on Tuesday. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97. The stock has a 50-day moving average of $24.75 and a 200 day moving average of $23.13. The company has a market capitalization of $192.86 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 3.00 and a beta of 0.56. 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 (NYSE:T) last released 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%. On average, sell-side analysts forecast 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.