Glassy Mountain Advisors Inc. Makes New Investment in AT&T Inc. (NYSE:T)

Glassy Mountain Advisors Inc. acquired a new position in shares of AT&T Inc. (NYSE:T – Get Rating) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 41,703 shares of the technology company’s stock, valued at approximately $768,000.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in AT&T by 0.7% during the third quarter. Vanguard Group Inc. now owns 600,524,205 shares of the technology company’s stock worth $9,212,041,000 after buying an additional 3,894,916 shares in the last quarter. State Street Corp boosted its stake in shares of AT&T by 1.6% in the 3rd quarter. State Street Corp now owns 280,895,582 shares of the technology company’s stock valued at $4,308,938,000 after purchasing an additional 4,430,454 shares in the last quarter. Newport Trust Co boosted its stake in shares of AT&T by 0.9% in the 2nd quarter. Newport Trust Co now owns 199,277,658 shares of the technology company’s stock valued at $4,176,860,000 after purchasing an additional 1,851,506 shares in the last quarter. Northern Trust Corp boosted its stake in shares of AT&T by 1.3% in the 2nd quarter. Northern Trust Corp now owns 76,189,792 shares of the technology company’s stock valued at $1,596,938,000 after purchasing an additional 950,450 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of AT&T by 4.8% in the 2nd quarter. Legal & General Group Plc now owns 52,838,773 shares of the technology company’s stock valued at $1,107,506,000 after purchasing an additional 2,402,764 shares in the last quarter. 51.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on T shares. StockNews.com started coverage on shares of AT&T in a research note on Thursday. They issued a “hold” rating on the stock. Citigroup raised their price target on shares of AT&T from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Credit Suisse Group raised their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. TheStreet downgraded shares of AT&T from a “b” rating to a “c” rating in a research note on Wednesday, January 25th. Finally, Wells Fargo & Company upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $17.00 to $22.00 in a research note on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

AT&T Trading Down 1.4 %

AT&T stock traded down $0.26 during mid-day trading on Friday, hitting $18.13. 58,728,602 shares of the stock were exchanged, compared to its average volume of 33,633,379. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. AT&T Inc. has a 12 month low of $14.46 and a 12 month high of $21.53. The firm’s fifty day simple moving average is $19.20 and its two-hundred day simple moving average is $18.19. The stock has a market capitalization of $129.26 billion, a price-to-earnings ratio of -15.24, a PEG ratio of 2.27 and a beta of 0.66.

AT&T (NYSE:T – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. AT&T had a negative net margin of 6.60% and a positive return on equity of 14.18%. The firm had revenue of $31.30 billion during the quarter, compared to analyst estimates of $31.50 billion. During the same quarter last year, the business earned $0.78 EPS. The company’s revenue was down 23.6% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.43 EPS for the current year.

AT&T Company Profile

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.