EWG Elevate Inc. Makes New Investment in AT&T Inc. (NYSE:T)

EWG Elevate Inc. purchased a new stake in shares of AT&T Inc. (NYSE:T – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,065 shares of the technology company’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Atlas Brown Inc. boosted its stake in AT&T by 0.7% during the 4th quarter. Atlas Brown Inc. now owns 78,373 shares of the technology company’s stock valued at $1,443,000 after purchasing an additional 523 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of AT&T by 1.2% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company’s stock valued at $1,119,000 after acquiring an additional 547 shares during the period. Chesapeake Wealth Management grew its stake in shares of AT&T by 1.8% in the third quarter. Chesapeake Wealth Management now owns 32,723 shares of the technology company’s stock worth $502,000 after acquiring an additional 566 shares during the last quarter. Fusion Capital LLC increased its position in AT&T by 2.2% during the third quarter. Fusion Capital LLC now owns 26,528 shares of the technology company’s stock worth $407,000 after acquiring an additional 566 shares during the period. Finally, BDO Wealth Advisors LLC raised its stake in AT&T by 4.7% during the 3rd quarter. BDO Wealth Advisors LLC now owns 12,790 shares of the technology company’s stock valued at $196,000 after purchasing an additional 571 shares during the last quarter. 51.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on T. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, December 8th. Wells Fargo & Company upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $22.00 in a research note on Tuesday, January 10th. Moffett Nathanson reaffirmed an “underperform” rating and issued a $17.00 price target on shares of AT&T in a report on Monday, December 19th. Citigroup boosted their price objective on AT&T from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Finally, Credit Suisse Group lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.00.

AT&T Price Performance

T opened at $18.13 on Friday. The firm has a 50 day moving average price of $19.20 and a 200-day moving average price of $18.19. AT&T Inc. has a twelve month low of $14.46 and a twelve month high of $21.53. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.53.

AT&T (NYSE:T – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $31.30 billion for the quarter, compared to analysts’ expectations of $31.50 billion. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The firm’s revenue for the quarter was down 23.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, equities research analysts predict that AT&T Inc. will post 2.41 EPS for the current fiscal year.

AT&T Profile

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.