Prudential Financial Inc. Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Prudential Financial Inc. lowered its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 29.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,822,191 shares of the technology company's stock after selling 2,875,048 shares during the period. Prudential Financial Inc. owned about 0.10% of AT&T worth $155,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Segall Bryant & Hamill LLC purchased a new position in shares of AT&T in the third quarter worth about $1,030,000. Meridian Wealth Management LLC raised its holdings in AT&T by 1.2% in the 3rd quarter. Meridian Wealth Management LLC now owns 59,034 shares of the technology company's stock valued at $1,299,000 after acquiring an additional 703 shares during the last quarter. Certified Advisory Corp raised its holdings in AT&T by 17.7% in the 3rd quarter. Certified Advisory Corp now owns 34,562 shares of the technology company's stock valued at $760,000 after acquiring an additional 5,195 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in AT&T by 19.4% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 66,883 shares of the technology company's stock worth $1,472,000 after purchasing an additional 10,854 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of AT&T by 16.4% in the third quarter. Cerity Partners LLC now owns 1,564,886 shares of the technology company's stock valued at $34,428,000 after purchasing an additional 220,574 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on T shares. DZ Bank raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 29th. Tigress Financial boosted their price target on shares of AT&T from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. UBS Group raised their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Scotiabank lifted their target price on shares of AT&T from $26.00 to $28.50 and gave the stock a "sector outperform" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley raised shares of AT&T from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average target price of $26.79.

AT&T Stock Up 2.0 %

Shares of T stock traded up $0.55 during trading on Thursday, reaching $28.20. The company's stock had a trading volume of 42,988,037 shares, compared to its average volume of 34,376,151. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $28.41. The stock's 50-day moving average price is $25.59 and its 200 day moving average price is $23.47. The company has a market capitalization of $202.41 billion, a price-to-earnings ratio of 18.92, 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 (NYSE:T - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping 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, research 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.