Alpine Bank Wealth Management Purchases New Holdings in AT&T Inc. (NYSE:T)

Alpine Bank Wealth Management purchased a new stake in shares of AT&T Inc. (NYSE:T) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,722 shares of the technology company’s stock, valued at approximately $303,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after buying an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC raised its stake in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares during the period. GQG Partners LLC lifted its holdings in AT&T by 37.3% during the 4th 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. Bank of New York Mellon Corp lifted its holdings in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. Finally, Norges Bank acquired a new stake in AT&T during the 4th quarter valued at $1,858,418,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.3%

Shares of NYSE T opened at $28.29 on Wednesday. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The stock’s fifty day moving average is $27.57 and its 200 day moving average is $25.86. The stock has a market capitalization of $203.53 billion, a P/E ratio of 17.35, a PEG ratio of 4.00 and a beta of 0.41.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $30.39 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 2.0% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on T shares. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. UBS Group reaffirmed a “buy” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Barclays raised their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their price target on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AT&T currently 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.