AGF Management Ltd. Has $4.64 Million Stake in AT&T Inc. (NYSE:T)

AGF Management Ltd. lowered its stake in shares of AT&T Inc. (NYSE:T) by 18.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 203,769 shares of the technology company’s stock after selling 44,786 shares during the period. AGF Management Ltd.’s holdings in AT&T were worth $4,640,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in shares of AT&T by 4,986.1% in the 4th 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. Bank of New York Mellon Corp boosted its stake in shares of AT&T by 7.1% in the 4th 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 boosted its stake in shares of AT&T by 19.8% in the 4th 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. Geode Capital Management LLC boosted its stake in shares of AT&T by 2.3% in the 3rd 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. Finally, Franklin Resources Inc. boosted its stake in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have 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 research note on Monday, December 16th. Scotiabank boosted their target price on AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T Trading Down 1.1 %

Shares of T stock opened at $25.72 on Thursday. The company’s fifty day simple moving average is $24.52 and its two-hundred day simple moving average is $22.96. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.97. The stock has a market capitalization of $184.59 billion, a price-to-earnings ratio of 17.26, 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 earnings per share for the quarter, topping 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, analysts anticipate that AT&T Inc. will post 2.14 earnings per share 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.