14,626 Shares in AT&T Inc. (NYSE:T) Purchased by Mystic Asset Management Inc.

Mystic Asset Management Inc. purchased a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 14,626 shares of the technology company’s stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. RD Lewis Holdings Inc. bought a new position in AT&T during the fourth quarter worth about $346,000. BlackDiamond Wealth Management LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $250,000. Edgemoor Investment Advisors Inc. raised its stake in shares of AT&T by 3.1% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 290,193 shares of the technology company’s stock valued at $6,608,000 after acquiring an additional 8,709 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $214,000. Finally, Wealth Architects LLC raised its stake in shares of AT&T by 11.2% in the fourth quarter. Wealth Architects LLC now owns 13,672 shares of the technology company’s stock valued at $311,000 after acquiring an additional 1,373 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $26.60 on Wednesday. The firm has a fifty day moving average of $24.84 and a two-hundred day moving average of $23.18. The stock has a market capitalization of $190.97 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.97. 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 (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

T has been the subject of a number of research analyst reports. Argus upgraded shares of 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. UBS Group lifted their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Tigress Financial lifted their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.