Greenwich Wealth Management LLC Invests $263,000 in AT&T Inc. (NYSE:T)

Greenwich Wealth Management LLC acquired a new stake in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,542 shares of the technology company’s stock, valued at approximately $263,000.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. FMR LLC boosted its position in AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after buying an additional 1,149,688 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of AT&T by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 53,057,676 shares of the technology company’s stock valued at $1,208,123,000 after buying an additional 414,984 shares during the last quarter. Finally, Amundi increased its holdings in shares of AT&T by 19.8% in the fourth quarter. Amundi now owns 33,963,826 shares of the technology company’s stock worth $753,318,000 after buying an additional 5,614,168 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 2.0 %

Shares of AT&T stock opened at $26.61 on Monday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.97. The firm has a market cap of $190.98 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.00 and a beta of 0.56. The company has a 50-day moving average of $24.66 and a 200 day moving average of $23.08. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on T shares. Barclays increased their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $28.00 in a report on Monday, December 16th. The Goldman Sachs Group upped their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Finally, Tigress Financial upped their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.