Martingale Asset Management L P Sells 72,200 Shares of AT&T Inc. (NYSE:T)

Martingale Asset Management L P cut its stake in AT&T Inc. (NYSE:T - Free Report) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,875,259 shares of the technology company's stock after selling 72,200 shares during the period. AT&T accounts for about 1.0% of Martingale Asset Management L P's portfolio, making the stock its 10th largest position. Martingale Asset Management L P's holdings in AT&T were worth $42,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Marshall Investment Management LLC acquired a new position in shares of AT&T in the fourth quarter valued at about $28,000. YANKCOM Partnership acquired a new stake in shares of AT&T in the fourth quarter valued at about $30,000. Tradewinds Capital Management LLC increased its stake in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after buying an additional 430 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T in the fourth quarter worth approximately $34,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of AT&T during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 1.5 %

Shares of T traded up $0.40 during midday trading on Friday, hitting $26.79. The company had a trading volume of 32,053,085 shares, compared to its average volume of 36,892,644. The company's 50-day simple moving average is $26.59 and its 200-day simple moving average is $23.99. 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 1 year low of $15.94 and a 1 year high of $29.03. The firm has a market capitalization of $192.29 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.00 and a beta of 0.42.

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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%. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.14%. AT&T's payout ratio is currently 74.50%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on T shares. Oppenheimer lifted their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Scotiabank boosted their target price on AT&T from $28.50 to $29.00 and gave the stock a "sector outperform" rating in a report on Tuesday, April 8th. Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research report on Thursday, January 16th. Citigroup reiterated a "buy" rating on shares of AT&T in a research report on Monday, April 7th. Finally, DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $27.24.

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.