DnB Asset Management AS Raises Stock Holdings in AT&T Inc. (NYSE:T)

DnB Asset Management AS boosted its stake in shares of AT&T Inc. (NYSE:T) by 38.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,767,387 shares of the technology company’s stock after buying an additional 493,595 shares during the quarter. DnB Asset Management AS’s holdings in AT&T were worth $40,243,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in T. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at $25,000. Marshall Investment Management LLC acquired a new position in AT&T in the 4th quarter valued at about $28,000. Tradewinds Capital Management LLC increased its stake in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the period. YANKCOM Partnership acquired a new stake in shares of AT&T during the fourth quarter worth about $30,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of AT&T in the fourth quarter valued at approximately $34,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 2.0 %

Shares of NYSE T opened at $28.20 on Friday. The business has a 50-day moving average price of $25.59 and a 200 day moving average price of $23.47. The stock has a market cap of $202.41 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $28.42.

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 the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

Analysts Set New Price Targets

T has been the topic of a number of research reports. Barclays increased their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada lifted their target price on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Tigress Financial increased their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Citigroup raised 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 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 assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $26.79.

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.