Alerus Financial NA Has $9.17 Million Stock Position in AT&T Inc. (NYSE:T)

Alerus Financial NA lessened its holdings in AT&T Inc. (NYSE:T) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 402,641 shares of the technology company’s stock after selling 11,508 shares during the period. AT&T accounts for approximately 0.7% of Alerus Financial NA’s holdings, making the stock its 28th largest position. Alerus Financial NA’s holdings in AT&T were worth $9,168,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Level Four Advisory Services LLC grew its position in shares of AT&T by 3.1% during the 4th quarter. Level Four Advisory Services LLC now owns 139,923 shares of the technology company’s stock worth $3,186,000 after buying an additional 4,202 shares during the period. Vertex Planning Partners LLC boosted its holdings in AT&T by 15.7% during the 4th quarter. Vertex Planning Partners LLC now owns 12,752 shares of the technology company’s stock worth $290,000 after acquiring an additional 1,729 shares during the last quarter. Premier Fund Managers Ltd grew its position in AT&T by 32.5% during the fourth quarter. Premier Fund Managers Ltd now owns 453,100 shares of the technology company’s stock valued at $10,242,000 after buying an additional 111,100 shares during the period. Orion Portfolio Solutions LLC lifted its stake in AT&T by 3.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 323,088 shares of the technology company’s stock valued at $7,357,000 after purchasing an additional 11,687 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of AT&T by 1.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,813,545 shares of the technology company’s stock worth $64,064,000 after acquiring an additional 40,948 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. 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 report on Thursday, February 13th. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Scotiabank raised their price target on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.79.

AT&T Price Performance

Shares of T stock opened at $28.20 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market cap of $202.41 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.00 and a beta of 0.56. The business’s fifty day moving average is $25.59 and its 200 day moving average is $23.47. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $28.42.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

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.