Gitterman Wealth Management LLC Raises Position in AT&T Inc. (NYSE:T)

Gitterman Wealth Management LLC grew its position in AT&T Inc. (NYSE:T) by 31.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,752 shares of the technology company’s stock after purchasing an additional 7,405 shares during the quarter. AT&T makes up 0.3% of Gitterman Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position. Gitterman Wealth Management LLC’s holdings in AT&T were worth $700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tradewinds Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 430 shares in the last quarter. Wealthstream Advisors Inc. grew its position in shares of AT&T by 3.7% in the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after purchasing an additional 444 shares during the last quarter. Northeast Investment Management lifted its stake in shares of AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after buying an additional 451 shares during the period. Chesapeake Wealth Management lifted its stake in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares during the period. Finally, Luts & Greenleigh Group Inc. raised its stake in AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after purchasing an additional 460 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 29th. Scotiabank lifted 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 report on Monday, March 3rd. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Citigroup lifted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $26.74.

AT&T Price Performance

T stock opened at $26.61 on Friday. The company has a market capitalization of $190.98 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $27.97. The business has a 50-day simple moving average of $24.66 and a two-hundred day simple moving average of $23.06.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) 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%. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

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.