Vestcor Inc Sells 102,789 Shares of AT&T Inc. (NYSE:T)

Vestcor Inc reduced its stake in AT&T Inc. (NYSE:T) by 13.1% in the 4th quarter, HoldingsChannel reports. The firm owned 683,983 shares of the technology company’s stock after selling 102,789 shares during the quarter. Vestcor Inc’s holdings in AT&T were worth $15,574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares in the last quarter. Wealthstream Advisors Inc. boosted its holdings in AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after purchasing an additional 444 shares during the last quarter. Northeast Investment Management boosted its holdings in AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after purchasing an additional 451 shares during the last quarter. Chesapeake Wealth Management boosted its holdings in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. boosted its holdings in AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after purchasing an additional 460 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Tigress Financial boosted 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. Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays boosted their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T Stock Performance

AT&T stock opened at $25.72 on Thursday. The firm’s 50 day simple moving average is $24.52 and its 200 day simple moving average is $22.96. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $184.59 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97.

AT&T (NYSE:T) last posted 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%. As a group, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal 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.