Vestcor Inc Sells 102,789 Shares of AT&T Inc. (NYSE:T)

Vestcor Inc cut its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 683,983 shares of the technology company's stock after selling 102,789 shares during the quarter. Vestcor Inc's holdings in AT&T were worth $15,574,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in T. Assetmark Inc. boosted its position in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after acquiring an additional 9,719,036 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares in the last quarter. Amundi boosted its position in shares of AT&T by 19.8% during the 4th quarter. Amundi now owns 33,963,826 shares of the technology company's stock worth $753,318,000 after acquiring an additional 5,614,168 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company's stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock worth $168,969,000 after acquiring an additional 2,326,904 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $25.72 on Thursday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The firm has a fifty day simple moving average of $24.52 and a 200 day simple moving average of $22.96. The company has a market capitalization of $184.59 billion, a PE ratio of 17.26, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

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AT&T (NYSE:T - Get Free Report) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates 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 forecast that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on T shares. JPMorgan Chase & Co. increased their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Citigroup raised their target price on shares of AT&T from $26.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Morgan Stanley upgraded 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 research report on Monday, December 16th. Tigress Financial raised their target price 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. Finally, The Goldman Sachs Group raised their target price on shares of AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. One research 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 company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $26.74.

AT&T Company 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.

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