50,000 Shares in AT&T Inc. (NYSE:T) Acquired by Connective Portfolio Management LLC

Connective Portfolio Management LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 50,000 shares of the technology company’s stock, valued at approximately $1,414,000. AT&T comprises approximately 4.8% of Connective Portfolio Management LLC’s portfolio, making the stock its 6th largest position.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of AT&T during the fourth quarter valued at approximately $1,858,418,000. GQG Partners LLC grew its stake in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares during the period. Northern Trust Corp boosted its holdings in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after acquiring an additional 9,719,036 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.5%

T opened at $27.79 on Friday. The stock has a market capitalization of $199.96 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.85 and a beta of 0.41. AT&T Inc. has a 12 month low of $18.07 and a 12 month high of $29.03. The firm’s fifty day simple moving average is $27.53 and its 200 day simple moving average is $25.78. 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 (NYSE:T) last posted 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). The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on T shares. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Royal Bank Of Canada lifted their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, Evercore ISI lifted their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.