Crescent Grove Advisors LLC has increased its holdings in AT&T Inc. (T:NYE) by 68.2% in the fourth quarter, according to the Securities & Exchange Commission. The institutional investor purchased an additional 13,202 AT&T stock shares, bringing their total to 32,551 shares valued at $599,000 at the end of the quarter.
Institutional Holdings:
Other institutional investors have also adjusted their positions in the company. Caisse DE Depot ET Placement DU Quebec increased its holdings in AT&T by 44.3% during the second quarter and now owns 34,252,184 shares valued at $717,926,000.
Ensign Peak Advisors Inc increased its holdings by 296.5% during the second quarter and now holds 11,745,375 shares valued at $246,182,000.
Renaissance Technologies LLC increased its holdings by 537.1% during the third quarter and now holds 9,931,986 shares valued at $152,357,000.
Great West Life Assurance Co. acquired a new stake in AT&T during the third quarter valued at approximately $122,863,000.
CI Investments Inc. boosted its holdings in AT&T by 855,303.6% during the second quarter and now owns 7,510,444 shares valued at $157,419,000.
Institutional investors and hedge funds now own 51.86% of AT&T stock.
AT&T Stock Price Analysis:
AT&T stock opened at $18.49 on Tuesday and has a fifty-day moving average of $19.19 and a two-hundred-day moving average of $18.20. The company has a market capitalization of $131.83 billion, a price-to-earnings ratio of -15.54, a PEG ratio of 2.25, and a beta of 0.66.
The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. Analysts predict that AT&T will post 2.41 EPS for the current year.
AT&T Stock-Analyst Ratings:
Several research firms have weighed in on T, with an average rating of “Buy” and an average target price of $20.81.
Wells Fargo & Company raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $22.00.
Citigroup boosted their target price on AT&T from $20.00 to $22.00 and gave the stock a “buy” rating.
Raymond James boosted their target price on AT&T from $24.00 to $25.00 and gave the stock a “strong-buy” rating.
Company Profile:
AT&T Inc. provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America.
The company was formerly known as SBC Communications Inc. and changed its name to AT&T Inc. in 2005. AT&T Inc. was incorporated in 1983 and is based in Dallas, Texas.
