Intact Investment Management Inc. Sells 328,400 Shares of AT&T Inc. (NYSE:T)

Intact Investment Management Inc. decreased its position in AT&T Inc. (NYSE:T) by 38.8% during the 4th quarter, Holdings Channel reports. The firm owned 518,900 shares of the technology company’s stock after selling 328,400 shares during the quarter. Intact Investment Management Inc.’s holdings in AT&T were worth $11,815,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in T. Assetmark Inc. lifted its position in AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares during the period. Bank of New York Mellon Corp raised its position 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 valued at $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Amundi raised its position 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 valued at $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 valued at $3,532,684,000 after buying an additional 3,630,972 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new position in AT&T in the fourth quarter valued at approximately $65,288,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.4 %

Shares of NYSE T opened at $26.09 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market cap of $187.24 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.97. The stock has a 50-day moving average price of $24.59 and a two-hundred day moving average price of $22.98.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Tigress Financial upped their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Sanford C. Bernstein upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given 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.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T 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.