Mitsubishi UFJ Trust & Banking Corp Sells 106,630 Shares of AT&T Inc. (NYSE:T)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in AT&T Inc. (NYSE:T) by 1.4% during the fourth quarter, Holdings Channel reports. The firm owned 7,318,553 shares of the technology company’s stock after selling 106,630 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in AT&T were worth $166,643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GQG Partners LLC raised its position in 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 in the last quarter. Assetmark Inc. increased its stake in shares of 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. Vanguard Group Inc. raised its holdings in shares of AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after buying an additional 6,220,442 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 worth $1,948,943,000 after buying an additional 5,649,277 shares during the last quarter. Finally, Amundi boosted its stake in AT&T by 19.8% in the fourth quarter. Amundi now owns 33,963,826 shares of the technology company’s stock valued at $753,318,000 after buying an additional 5,614,168 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on T shares. Tigress Financial boosted 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. The Goldman Sachs Group upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Barclays raised their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research note on Thursday, February 13th. Finally, Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Stock Performance

NYSE:T opened at $26.96 on Tuesday. The company has a market capitalization of $193.49 billion, a PE ratio of 18.09, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two 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. The company has a 50 day simple moving average of $25.24 and a two-hundred day simple moving average of $23.36.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

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.