Congress Wealth Management LLC DE Cuts Position in AT&T Inc. (NYSE:T)

Congress Wealth Management LLC DE lowered its stake in shares of AT&T Inc. (NYSE:T) by 36.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,081 shares of the technology company’s stock after selling 70,966 shares during the period. Congress Wealth Management LLC DE’s holdings in AT&T were worth $2,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the 3rd quarter worth $25,000. Marshall Investment Management LLC acquired a new position in AT&T during the fourth quarter worth about $28,000. YANKCOM Partnership purchased a new stake in shares of AT&T in the fourth quarter valued at about $30,000. Tradewinds Capital Management LLC lifted its holdings in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of AT&T during the 4th quarter worth approximately $34,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of NYSE:T opened at $27.65 on Thursday. The business has a 50-day moving average of $25.46 and a two-hundred day moving average of $23.43. The firm has a market capitalization of $198.48 billion, a PE ratio of 18.56, a P/E/G ratio of 3.00 and a beta of 0.56. 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 12 month low of $15.94 and a 12 month 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 (EPS) 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, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on T shares. Oppenheimer assumed coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, DZ Bank upgraded shares of 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 assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $26.79.

AT&T 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.