Intact Investment Management Inc. Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Intact Investment Management Inc. lowered its stake in shares of AT&T Inc. (NYSE:T) by 38.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 518,900 shares of the technology company’s stock after selling 328,400 shares during the period. Intact Investment Management Inc.’s holdings in AT&T were worth $11,815,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in T. Geode Capital Management LLC increased its stake in AT&T by 2.3% during the 3rd 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 period. Bank of New York Mellon Corp grew its holdings in 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 acquiring an additional 5,649,277 shares in the last quarter. FMR LLC boosted its holdings in shares of AT&T by 1.9% in the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after buying an additional 1,149,688 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of AT&T by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 53,057,676 shares of the technology company’s stock valued at $1,208,123,000 after buying an additional 414,984 shares during the period. Finally, Amundi boosted its holdings in shares of AT&T by 19.8% in the 4th 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 during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of several recent research reports. UBS Group lifted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Citigroup boosted their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. 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 report on Wednesday, January 29th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T Price Performance

NYSE:T opened at $26.09 on Friday. The stock has a market cap of $187.24 billion, a P/E ratio of 17.51, a PEG ratio of 3.00 and a beta of 0.56. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97. The company has a fifty day moving average price of $24.59 and a 200 day moving average price of $22.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last released 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%. 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.