Providence Capital Advisors LLC Has $4.21 Million Position in AT&T Inc. (NYSE:T)

Providence Capital Advisors LLC lifted its stake in AT&T Inc. (NYSE:T) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 184,748 shares of the technology company’s stock after acquiring an additional 1,128 shares during the quarter. Providence Capital Advisors LLC’s holdings in AT&T were worth $4,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC increased its position 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. GQG Partners LLC raised its holdings in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 buying an additional 5,649,277 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AT&T during the 4th quarter worth about $1,858,418,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a report on Monday, December 16th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research note on Thursday, February 13th. Royal Bank of Canada upped their price target on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 29th. Finally, Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $26.79.

AT&T Stock Up 2.0 %

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

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS 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%. As a group, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

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.