KLP Kapitalforvaltning AS Acquires Shares of 3,616,164 AT&T Inc. (NYSE:T)

KLP Kapitalforvaltning AS acquired a new stake in AT&T Inc. (NYSE:T) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,616,164 shares of the technology company’s stock, valued at approximately $82,340,000. KLP Kapitalforvaltning AS owned approximately 0.05% of AT&T at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in 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 buying an additional 9,719,036 shares during the period. Bank of New York Mellon Corp raised its holdings in 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 buying an additional 5,649,277 shares during the period. Amundi raised its holdings in 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 buying an additional 5,614,168 shares during the period. Geode Capital Management LLC raised its holdings in 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 buying an additional 3,630,972 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in AT&T during the 4th quarter worth approximately $65,288,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on T. Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” 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 boosted their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Sanford C. Bernstein boosted their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. UBS Group boosted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Tigress Financial boosted their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.79.

AT&T Stock Performance

Shares of T opened at $27.04 on Friday. The company has a market cap of $194.06 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. 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 stock has a 50-day moving average price of $25.13 and a 200-day moving average price of $23.28. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal 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.