Rhumbline Advisers Sells 148,042 Shares of AT&T Inc. (NYSE:T)

Rhumbline Advisers reduced its stake in AT&T Inc. (NYSE:T - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,505,572 shares of the technology company's stock after selling 148,042 shares during the quarter. Rhumbline Advisers owned 0.19% of AT&T worth $307,522,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Northeast Investment Management lifted its position in AT&T by 0.9% in the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company's stock valued at $1,166,000 after acquiring an additional 451 shares in the last quarter. Chesapeake Wealth Management lifted its position in AT&T by 1.9% during the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company's stock worth $535,000 after buying an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. lifted its position in AT&T by 2.8% during the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company's stock worth $385,000 after buying an additional 460 shares in the last quarter. Socha Financial Group LLC lifted its position in AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company's stock worth $415,000 after buying an additional 461 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC lifted its position in AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company's stock worth $759,000 after buying an additional 468 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several equities research analysts have commented on T shares. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Scotiabank boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, January 28th. Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an "outperform" rating and a $28.00 price target on the stock. Finally, New Street Research raised shares of AT&T from a "neutral" rating to a "buy" rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.33.

AT&T Stock Performance

T traded up $0.20 on Tuesday, reaching $26.07. The company had a trading volume of 52,435,051 shares, compared to its average volume of 38,233,598. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $26.18. The stock has a market cap of $187.09 billion, a P/E ratio of 17.50, a P/E/G ratio of 2.79 and a beta of 0.59. The company's fifty day moving average is $23.28 and its 200 day moving average is $22.12. 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 (NYSE:T - Get Free Report) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, analysts predict that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.26%. AT&T's payout ratio is presently 74.50%.

AT&T 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.