Frank Rimerman Advisors LLC Raises Position in AT&T Inc. (NYSE:T)

Frank Rimerman Advisors LLC raised its position in AT&T Inc. (NYSE:T) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,553 shares of the technology company’s stock after acquiring an additional 2,452 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in AT&T were worth $3,519,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Catalyst Funds Management Pty Ltd purchased a new position in shares of AT&T in the fourth quarter valued at about $694,000. Poinciana Advisors Group LLC purchased a new position in shares of AT&T in the fourth quarter valued at about $287,000. Picton Mahoney Asset Management increased its position in shares of AT&T by 1,820.9% in the fourth quarter. Picton Mahoney Asset Management now owns 247,262 shares of the technology company’s stock valued at $5,631,000 after acquiring an additional 234,390 shares during the period. Kestra Advisory Services LLC increased its position in shares of AT&T by 5.8% in the fourth quarter. Kestra Advisory Services LLC now owns 1,251,244 shares of the technology company’s stock valued at $28,491,000 after acquiring an additional 68,598 shares during the period. Finally, HMV Wealth Advisors LLC purchased a new position in shares of AT&T in the fourth quarter valued at about $586,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 2.0 %

Shares of NYSE T opened at $26.61 on Friday. The firm’s 50 day moving average price is $24.66 and its 200-day moving average price is $23.03. The company has a market cap of $190.98 billion, a PE ratio of 17.86, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $27.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on T shares. Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. 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. UBS Group lifted their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T 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.