Baxter Bros Inc. Trims Stake in AT&T Inc. (NYSE:T)

Baxter Bros Inc. cut its holdings in AT&T Inc. (NYSE:T) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,847 shares of the technology company’s stock after selling 2,714 shares during the period. Baxter Bros Inc.’s holdings in AT&T were worth $771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares during the last quarter. GQG Partners LLC lifted its position in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. Bank of New York Mellon Corp boosted its position in AT&T by 7.1% in the fourth 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 buying an additional 5,649,277 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $26.96 on Tuesday. The company has a market capitalization of $193.49 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.97. The firm has a 50 day moving average of $25.24 and a two-hundred day moving average of $23.36. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating 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, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on T. Citigroup lifted 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. Barclays lifted their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $28.00 in a report on Monday, December 16th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday, January 16th. Finally, DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

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.