GenWealth Group Inc. Reduces Stock Position in AT&T Inc. (NYSE:T)

GenWealth Group Inc. lowered its position in shares of AT&T Inc. (NYSE:T - Free Report) by 45.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,898 shares of the technology company's stock after selling 11,656 shares during the period. GenWealth Group Inc.'s holdings in AT&T were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of 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 valued at $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. FMR LLC lifted its position in AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company's stock valued at $1,341,693,000 after purchasing an additional 1,149,688 shares during the period. Legal & General Group Plc boosted its holdings in AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company's stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. grew its position in AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company's stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, AQR Capital Management LLC raised its stake in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company's stock valued at $414,563,000 after buying an additional 6,602,586 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.2 %

Shares of NYSE:T traded up $0.28 during trading hours on Friday, hitting $22.30. 33,632,584 shares of the company's stock traded hands, compared to its average volume of 28,784,102. The firm has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The business has a fifty day moving average price of $22.79 and a 200-day moving average price of $21.33. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (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 analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business's revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. Equities analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. AT&T's dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

A number of research firms have issued reports on T. Hsbc Global Res upgraded AT&T to a "strong-buy" rating in a research note on Tuesday, October 1st. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an "outperform" rating and a $28.00 target price for the company. Barclays increased their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada raised AT&T from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $22.00 to $26.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.83.

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.