TrueMark Investments LLC Takes $2.70 Million Position in AT&T Inc. (NYSE:T)

TrueMark Investments LLC bought a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 118,463 shares of the technology company’s stock, valued at approximately $2,697,000.

Other large investors have also recently bought and sold shares of the company. Great Valley Advisor Group Inc. increased its stake in shares of AT&T by 19.4% in the third quarter. Great Valley Advisor Group Inc. now owns 66,883 shares of the technology company’s stock worth $1,472,000 after acquiring an additional 10,854 shares during the period. Larson Financial Group LLC grew its position in AT&T by 27.3% during the 3rd quarter. Larson Financial Group LLC now owns 39,481 shares of the technology company’s stock worth $869,000 after purchasing an additional 8,460 shares during the period. Davis R M Inc. grew its position in AT&T by 20.5% during the 3rd quarter. Davis R M Inc. now owns 36,416 shares of the technology company’s stock worth $801,000 after purchasing an additional 6,202 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of AT&T by 1,453.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 75,560 shares of the technology company’s stock valued at $1,661,000 after buying an additional 70,696 shares during the period. Finally, Independent Advisor Alliance purchased a new stake in shares of AT&T in the third quarter worth about $4,001,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. Royal Bank of Canada increased their price objective 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. Barclays boosted their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Sanford C. Bernstein increased their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.79.

AT&T Stock Performance

Shares of AT&T stock opened at $27.30 on Wednesday. The firm has a market cap of $195.96 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.97. The business’s fifty day simple moving average is $25.35 and its 200-day simple moving average is $23.40.

AT&T (NYSE:T) last posted its 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%. Equities analysts forecast 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.