Balboa Wealth Partners Has $935,000 Stock Position in AT&T Inc. (NYSE:T)

Balboa Wealth Partners cut its stake in shares of AT&T Inc. (NYSE:T) by 27.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,062 shares of the technology company’s stock after selling 15,698 shares during the period. Balboa Wealth Partners’ holdings in AT&T were worth $935,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of AT&T by 62.0% during the third quarter. Assetmark Inc. now owns 194,924 shares of the technology company’s stock worth $4,288,000 after purchasing an additional 74,607 shares during the period. Venturi Wealth Management LLC raised its holdings in AT&T by 35.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 15,038 shares of the technology company’s stock worth $331,000 after buying an additional 3,948 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in AT&T by 1.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 50,033 shares of the technology company’s stock valued at $1,101,000 after buying an additional 662 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of AT&T by 9.0% in the third quarter. Harbour Investments Inc. now owns 142,186 shares of the technology company’s stock valued at $3,128,000 after buying an additional 11,713 shares during the period. Finally, Savvy Advisors Inc. bought a new stake in shares of AT&T during the third quarter worth $284,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.1 %

Shares of AT&T stock opened at $25.72 on Thursday. The firm’s 50-day moving average price is $24.52 and its two-hundred day moving average price is $22.96. The company has a market capitalization of $184.59 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 3.00 and a beta of 0.56. 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 Inc. has a 12-month low of $15.94 and a 12-month high of $27.97.

AT&T (NYSE:T) last posted 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%. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research analyst reports. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Scotiabank increased their price objective on AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Argus upgraded 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, BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $26.74.

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.