Prestige Wealth Management Group LLC Trims Holdings in AT&T Inc. (NYSE:T)

Prestige Wealth Management Group LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,985 shares of the technology company’s stock after selling 6,656 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in AT&T were worth $910,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in AT&T in the third quarter valued at $25,000. Marshall Investment Management LLC purchased a new stake in AT&T during the fourth quarter worth about $28,000. Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares in the last quarter. YANKCOM Partnership purchased a new stake in AT&T during the fourth quarter worth $30,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $26.96 on Tuesday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97. The firm has a market capitalization of $193.49 billion, a PE ratio of 18.09, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The business’s fifty day moving average price is $25.24 and its two-hundred day moving average price is $23.36.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating 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, research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada lifted their price objective on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 19th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday, January 16th. Citigroup boosted their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.79.

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.