DNB Asset Management AS Sells 28,681 Shares of AT&T Inc. (NYSE:T)

DNB Asset Management AS reduced its position in shares of AT&T Inc. (NYSE:T – Get Rating) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,770,909 shares of the technology company’s stock after selling 28,681 shares during the quarter. DNB Asset Management AS’s holdings in AT&T were worth $32,602,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in shares of AT&T in the 2nd quarter valued at about $34,000. Bay Harbor Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter valued at about $36,000. Eisler Capital UK Ltd. bought a new stake in shares of AT&T in the 3rd quarter valued at about $36,000. McClarren Financial Advisors Inc. bought a new stake in shares of AT&T in the 3rd quarter valued at about $45,000. Finally, Phocas Financial Corp. bought a new stake in shares of AT&T in the 4th quarter valued at about $46,000. 51.86% of the stock is owned by institutional investors.

AT&T Stock Down 1.4 %

T traded down $0.26 during trading hours on Friday, reaching $18.13. The company’s stock had a trading volume of 58,728,602 shares, compared to its average volume of 27,200,652. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The company’s 50-day moving average is $19.20 and its 200-day moving average is $18.19. AT&T Inc. has a 52 week low of $14.46 and a 52 week high of $21.53.

AT&T (NYSE:T – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $31.30 billion for the quarter, compared to analysts’ expectations of $31.50 billion. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The company’s quarterly revenue was down 23.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

T has been the subject of several research analyst reports. StockNews.com initiated coverage on AT&T in a research report on Thursday. They issued a “hold” rating for the company. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, December 8th. Raymond James boosted their price objective on AT&T from $24.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 26th. Cowen boosted their price objective on AT&T from $24.00 to $25.00 in a research report on Thursday, January 26th. Finally, Citigroup boosted their price objective on AT&T from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, January 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

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.