Retirement Planning Group LLC NY Grows Stock Position in AT&T Inc. (NYSE:T)

Retirement Planning Group LLC NY raised its holdings in AT&T Inc. (NYSE:T) by 3.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,149 shares of the technology company’s stock after buying an additional 857 shares during the quarter. Retirement Planning Group LLC NY’s holdings in AT&T were worth $711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth about $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the fourth quarter worth about $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T in the fourth quarter worth about $27,000. Marshall Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter worth about $28,000. Finally, Tradewinds Capital Management LLC raised its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.5%

Shares of T opened at $27.79 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 12 month low of $18.07 and a 12 month high of $29.03. The stock’s 50 day moving average is $27.53 and its two-hundred day moving average is $25.78. The firm has a market cap of $199.96 billion, a P/E ratio of 17.05, a PEG ratio of 3.85 and a beta of 0.41.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer raised their price objective on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Tigress Financial raised their price objective on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.76.

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.