Empowered Funds LLC Has $18.15 Million Holdings in AT&T Inc. (NYSE:T)

Empowered Funds LLC reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 824,862 shares of the technology company's stock after selling 71,851 shares during the quarter. Empowered Funds LLC's holdings in AT&T were worth $18,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of T. Vanguard Group Inc. increased its stake in shares of AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company's stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp raised its holdings in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company's stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Legal & General Group Plc lifted its position in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company's stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company's stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company's stock worth $575,070,000 after buying an additional 315,580 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Scotiabank lowered AT&T from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Barclays lifted their price objective on shares of AT&T from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Redburn Atlantic raised shares of AT&T to a "strong sell" rating in a research note on Monday, September 16th. Hsbc Global Res upgraded shares of AT&T to a "strong-buy" rating in a research report on Tuesday, October 1st. Finally, Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the company an "in-line" rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten 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 an average price target of $23.40.

AT&T Stock Up 2.0 %

NYSE T traded up $0.44 during trading hours on Friday, hitting $22.69. 40,191,875 shares of the company traded hands, compared to its average volume of 35,514,727. The stock has a market capitalization of $162.81 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 3.35 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.75 and a twelve month high of $22.75. The business's 50-day moving average is $21.85 and its 200-day moving average is $19.67. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts' expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T's payout ratio is 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.