Horizon Kinetics Asset Management LLC Makes New $237,000 Investment in AT&T Inc. (NYSE:T)

Horizon Kinetics Asset Management LLC purchased a new position in AT&T Inc. (NYSE:T) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,400 shares of the technology company’s stock, valued at approximately $237,000.

Other large investors have also modified their holdings of the company. Assetmark Inc. lifted its stake 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 worth $225,741,000 after acquiring an additional 9,719,036 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 in the last quarter. Amundi raised its holdings 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 valued at $753,318,000 after purchasing an additional 5,614,168 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AT&T by 2.3% during 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 purchasing an additional 3,630,972 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of AT&T during the fourth quarter worth $65,288,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.1 %

T stock 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. The stock 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. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97. The company has a fifty day moving average of $24.75 and a 200-day moving average of $23.13.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.74.

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.