BlackDiamond Wealth Management LLC Takes Position in AT&T Inc. (NYSE:T)

BlackDiamond Wealth Management LLC bought a new stake in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,971 shares of the technology company’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in T. Assetmark Inc. raised its stake in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Bank of New York Mellon Corp raised its stake in AT&T by 7.1% in 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. Amundi increased its stake in shares of AT&T by 19.8% in the 4th quarter. Amundi now owns 33,963,826 shares of the technology company’s stock worth $753,318,000 after acquiring an additional 5,614,168 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AT&T by 2.3% in the 3rd 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 during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of AT&T in the 4th quarter worth $65,288,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $26.87 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.97. The firm has a market capitalization of $192.86 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The stock’s 50-day simple moving average is $24.75 and its 200-day simple moving average is $23.13.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on T. Tigress Financial raised their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 16th. Morgan Stanley raised 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 research note on Monday, December 16th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Company 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.