601,919 Shares in AT&T Inc. (NYSE:T) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 601,919 shares of the technology company's stock, valued at approximately $13,706,000.

A number of other institutional investors have also added to or reduced their stakes in T. MQS Management LLC purchased a new stake in AT&T during the 3rd quarter valued at approximately $261,000. KBC Group NV grew its holdings in AT&T by 6.8% during the 3rd quarter. KBC Group NV now owns 1,349,457 shares of the technology company's stock valued at $29,688,000 after buying an additional 85,378 shares in the last quarter. Curi RMB Capital LLC grew its holdings in AT&T by 71.2% during the 3rd quarter. Curi RMB Capital LLC now owns 22,453 shares of the technology company's stock valued at $494,000 after buying an additional 9,335 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in AT&T by 10.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 190,699 shares of the technology company's stock valued at $4,195,000 after buying an additional 17,469 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of AT&T by 5.4% in the third quarter. CIBC Asset Management Inc now owns 1,150,056 shares of the technology company's stock valued at $25,300,000 after purchasing an additional 58,585 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Argus raised 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. DZ Bank raised 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 Wednesday, January 29th. Morgan Stanley raised shares of AT&T from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. 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 report on Thursday, February 13th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.74.

Remove Ads

AT&T Stock Up 2.0 %

NYSE:T opened at $26.61 on Friday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The company has a market cap of $190.98 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The stock has a fifty day simple moving average of $24.66 and a 200-day simple moving average of $23.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last released its earnings results 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%. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.