Wellington Shields Capital Management LLC Buys 109,060 Shares of AT&T Inc. (NYSE:T)

Wellington Shields Capital Management LLC boosted its stake in AT&T Inc. (NYSE:T) by 273.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,880 shares of the technology company’s stock after purchasing an additional 109,060 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in AT&T were worth $3,390,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Savvy Advisors Inc. acquired a new position in AT&T during the third quarter valued at approximately $284,000. Aptus Capital Advisors LLC boosted its position in shares of AT&T by 16.6% during the third quarter. Aptus Capital Advisors LLC now owns 108,012 shares of the technology company’s stock worth $2,376,000 after purchasing an additional 15,415 shares in the last quarter. Haverford Trust Co grew its holdings in shares of AT&T by 24.8% in the 3rd quarter. Haverford Trust Co now owns 66,198 shares of the technology company’s stock valued at $1,456,000 after buying an additional 13,142 shares during the period. MQS Management LLC bought a new stake in shares of AT&T in the 3rd quarter valued at $261,000. Finally, Cable Hill Partners LLC raised its stake in AT&T by 11.3% during the 3rd quarter. Cable Hill Partners LLC now owns 18,942 shares of the technology company’s stock worth $417,000 after buying an additional 1,929 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 16th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a report on Thursday, February 13th. Finally, Sanford C. Bernstein upped their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.74.

AT&T Stock Performance

AT&T stock opened at $26.09 on Friday. The company has a market capitalization of $187.24 billion, a P/E ratio of 17.51, a P/E/G ratio of 3.00 and a beta of 0.56. The business has a 50 day moving average of $24.59 and a 200-day moving average 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 Inc. has a 1 year low of $15.94 and a 1 year high of $27.97.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities research analysts predict 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.