ProVise Management Group LLC Has $726,000 Stock Position in AT&T Inc. (NYSE:T)

ProVise Management Group LLC reduced its holdings in AT&T Inc. (NYSE:T) by 7.9% in the 4th quarter, HoldingsChannel reports. The fund owned 31,882 shares of the technology company’s stock after selling 2,716 shares during the period. ProVise Management Group LLC’s holdings in AT&T were worth $726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Xponance Inc. increased its position in shares of AT&T by 2.0% during the fourth quarter. Xponance Inc. now owns 1,007,514 shares of the technology company’s stock worth $22,941,000 after buying an additional 19,514 shares during the period. Intech Investment Management LLC increased its position in shares of AT&T by 30.0% during the fourth quarter. Intech Investment Management LLC now owns 377,846 shares of the technology company’s stock worth $8,604,000 after buying an additional 87,174 shares during the period. Generali Asset Management SPA SGR acquired a new stake in shares of AT&T during the fourth quarter worth $12,959,000. Evoke Wealth LLC increased its position in shares of AT&T by 2.1% during the fourth quarter. Evoke Wealth LLC now owns 36,296 shares of the technology company’s stock worth $826,000 after buying an additional 738 shares during the period. Finally, Horizon Investments LLC increased its position in shares of AT&T by 0.9% during the fourth quarter. Horizon Investments LLC now owns 98,697 shares of the technology company’s stock worth $2,220,000 after buying an additional 880 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.9 %

AT&T stock opened at $26.85 on Thursday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97. The firm has a market capitalization of $192.75 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The firm’s fifty day moving average price is $24.93 and its two-hundred day moving average price is $23.20. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

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

Wall Street Analyst Weigh In

T has been the subject of several recent analyst reports. Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 29th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, 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 note on Thursday, December 5th. One research 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.