McElhenny Sheffield Capital Management LLC Invests $108,000 in AT&T Inc. (NYSE:T)

McElhenny Sheffield Capital Management LLC acquired a new position in AT&T Inc. (NYSE:T – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 5,522 shares of the technology company’s stock, valued at approximately $108,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC lifted its stake in shares of AT&T by 46.3% in the 3rd quarter. Northwest Investment Counselors LLC now owns 3,800 shares of the technology company’s stock valued at $58,000 after purchasing an additional 1,203 shares during the period. Baird Financial Group Inc. lifted its stake in shares of AT&T by 55.1% in the 3rd quarter. Baird Financial Group Inc. now owns 2,042,311 shares of the technology company’s stock valued at $31,329,000 after purchasing an additional 725,364 shares during the period. Canandaigua National Corp raised its stake in AT&T by 1.0% during the third quarter. Canandaigua National Corp now owns 77,837 shares of the technology company’s stock valued at $1,194,000 after buying an additional 775 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in AT&T by 8.5% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 647,685 shares of the technology company’s stock valued at $9,935,000 after buying an additional 50,475 shares during the last quarter. Finally, Solitude Financial Services raised its stake in AT&T by 22.7% during the third quarter. Solitude Financial Services now owns 52,360 shares of the technology company’s stock valued at $803,000 after buying an additional 9,675 shares during the last quarter. Hedge funds and other institutional investors own 51.86% of the company’s stock.

AT&T Stock Performance

Shares of T opened at $18.13 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. AT&T Inc. has a one year low of $14.46 and a one year high of $21.53. The business has a fifty day moving average of $19.20 and a 200 day moving average of $18.19.

AT&T (NYSE:T – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The company had revenue of $31.30 billion during the quarter, compared to analyst estimates of $31.50 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. AT&T’s revenue was down 23.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on T shares. Morgan Stanley cut AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective for the company. in a research note on Thursday, December 15th. Cowen lifted their price objective on AT&T from $24.00 to $25.00 in a research note on Thursday, January 26th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, December 8th. Credit Suisse Group lifted their price objective on AT&T from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. Finally, Citigroup boosted their price target on AT&T from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, January 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

AT&T Profile

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.