Convergence Investment Partners LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

Convergence Investment Partners LLC reduced its holdings in AT&T Inc. (NYSE:T - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,584 shares of the technology company's stock after selling 12,310 shares during the period. AT&T makes up 0.9% of Convergence Investment Partners LLC's portfolio, making the stock its 25th largest holding. Convergence Investment Partners LLC's holdings in AT&T were worth $4,157,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in AT&T in the fourth quarter worth $14,700,000. Swiss National Bank raised its stake in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company's stock valued at $468,217,000 after acquiring an additional 104,700 shares during the period. Franklin Resources Inc. lifted its holdings in shares of AT&T by 41.4% in 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 during the last quarter. Consolidated Planning Corp boosted its stake in shares of AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock worth $7,288,000 after purchasing an additional 21,927 shares during the period. Finally, Caprock Group LLC boosted its stake in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company's stock worth $4,312,000 after purchasing an additional 30,281 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 1.9 %

Shares of NYSE T traded up $0.49 during mid-day trading on Friday, reaching $26.64. 58,384,223 shares of the company were exchanged, compared to its average volume of 38,439,449. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $26.72. The firm has a 50-day moving average of $23.44 and a 200 day moving average of $22.23. The stock has a market cap of $191.19 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 3.01 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating 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%. On average, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, January 10th. AT&T's dividend payout ratio is currently 74.50%.

Analyst Ratings Changes

T has been the subject of several analyst reports. UBS Group raised their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. DZ Bank raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research note on Wednesday, January 29th. Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the company an "in-line" rating in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their target price on AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AT&T has an average rating of "Moderate Buy" and an average price target of $26.33.

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.