Intact Investment Management Inc. Has $11.82 Million Stock Position in AT&T Inc. (NYSE:T)

Intact Investment Management Inc. cut its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 38.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 518,900 shares of the technology company's stock after selling 328,400 shares during the period. Intact Investment Management Inc.'s holdings in AT&T were worth $11,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $25,000. Marshall Investment Management LLC acquired a new position in AT&T in the fourth quarter worth about $28,000. Tradewinds Capital Management LLC increased its holdings in 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 buying an additional 430 shares during the last quarter. YANKCOM Partnership acquired a new stake in AT&T during the fourth quarter valued at approximately $30,000. Finally, Ritter Daniher Financial Advisory LLC DE lifted its holdings in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock worth $29,000 after buying an additional 841 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the topic of several research analyst reports. UBS Group raised their price objective on AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Barclays raised their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. New Street Research upgraded shares of AT&T from a "neutral" rating to a "buy" rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their target price on AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Finally, Citigroup upped their target price on AT&T from $26.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.74.

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AT&T Price Performance

NYSE:T traded up $0.52 during midday trading on Friday, hitting $26.61. 37,583,777 shares of the stock were exchanged, compared to its average volume of 42,100,930. The business has a 50-day moving average price of $24.66 and a two-hundred day moving average price 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. The company has a market capitalization of $190.98 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a one year low of $15.94 and a one year high of $27.97.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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%. Sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

About AT&T

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.