Towercrest Capital Management Increases Stock Position in AT&T Inc. (NYSE:T)

Towercrest Capital Management grew its position in AT&T Inc. (NYSE:T) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,776 shares of the technology company’s stock after purchasing an additional 496 shares during the period. Towercrest Capital Management’s holdings in AT&T were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Assetmark Inc. increased its holdings 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 buying an additional 9,719,036 shares during the last quarter. Vanguard Group Inc. increased its holdings in AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after buying an additional 6,220,442 shares during the last quarter. Bank of New York Mellon Corp increased its holdings 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 buying an additional 5,649,277 shares during the last quarter. Amundi increased its holdings in AT&T by 19.8% during the fourth quarter. Amundi now owns 33,963,826 shares of the technology company’s stock worth $753,318,000 after buying an additional 5,614,168 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in AT&T by 2.3% during 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 buying an additional 3,630,972 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on T. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Scotiabank increased their target price on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. The Goldman Sachs Group increased their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research report on Thursday, February 13th. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, January 16th. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

AT&T Trading Up 0.9 %

Shares of AT&T stock opened at $27.04 on Monday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.97. The firm has a market cap of $194.06 billion, a PE ratio of 18.14, a PEG ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a 50 day simple moving average of $25.13 and a two-hundred day simple moving average of $23.32.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) 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%. Analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal 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.