AT&T Inc. (NYSE:T) is GQG Partners LLC's 10th Largest Position

GQG Partners LLC increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 37.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,779,385 shares of the technology company's stock after purchasing an additional 26,280,866 shares during the quarter. AT&T makes up about 3.3% of GQG Partners LLC's portfolio, making the stock its 10th largest holding. GQG Partners LLC owned about 1.35% of AT&T worth $2,203,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Modern Wealth Management LLC raised its position in AT&T by 10.2% in the fourth quarter. Modern Wealth Management LLC now owns 73,504 shares of the technology company's stock valued at $1,827,000 after purchasing an additional 6,794 shares during the last quarter. CoreFirst Bank & Trust bought a new position in AT&T in the 4th quarter valued at approximately $299,000. Towercrest Capital Management boosted its position in AT&T by 1.7% during the 4th quarter. Towercrest Capital Management now owns 29,776 shares of the technology company's stock worth $678,000 after buying an additional 496 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in shares of AT&T during the fourth quarter worth $147,000. Finally, Crowley Wealth Management Inc. bought a new stake in shares of AT&T in the fourth quarter worth $149,000. Institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on T shares. JPMorgan Chase & Co. lifted their target price on AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Morgan Stanley raised shares of AT&T from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Scotiabank upped their price objective on shares of AT&T from $26.00 to $28.50 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. BNP Paribas upgraded shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. Finally, UBS Group lifted their price objective on AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.79.

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AT&T Stock Up 2.1 %

Shares of NYSE:T traded up $0.59 during midday trading on Thursday, hitting $28.24. 18,121,075 shares of the company's stock were exchanged, compared to its average volume of 34,292,845. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a 50 day moving average price of $25.46 and a 200-day moving average price of $23.43. The company has a market cap of $202.68 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $28.29.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating 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, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal 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.