Te Ahumairangi Investment Management Ltd lowered its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 17.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 512,562 shares of the technology company's stock after selling 106,517 shares during the quarter. AT&T makes up approximately 2.4% of Te Ahumairangi Investment Management Ltd's holdings, making the stock its 7th biggest position. Te Ahumairangi Investment Management Ltd's holdings in AT&T were worth $11,671,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of T. International Assets Investment Management LLC bought a new stake in shares of AT&T in the fourth quarter worth about $14,700,000. Franklin Resources Inc. raised its position in 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 purchasing an additional 2,326,904 shares during the period. Consolidated Planning Corp grew its position in AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock valued at $7,288,000 after acquiring an additional 21,927 shares during the last quarter. Fortress Financial Solutions LLC bought a new position in AT&T in the 4th quarter worth about $691,000. Finally, West Family Investments Inc. raised its position in AT&T by 70.4% during the 4th quarter. West Family Investments Inc. now owns 37,961 shares of the technology company's stock valued at $864,000 after purchasing an additional 15,680 shares in the last quarter. Institutional investors own 57.10% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have commented on T. Tigress Financial boosted their target price on shares of AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Oppenheimer raised their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday. Scotiabank upped their price target on AT&T from $26.00 to $28.50 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. DZ Bank upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. Finally, Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.21.
View Our Latest Stock Analysis on AT&T
AT&T Stock Performance
NYSE:T traded down $0.35 during mid-day trading on Wednesday, reaching $28.13. The stock had a trading volume of 41,502,659 shares, compared to its average volume of 36,297,817. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $28.61. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The business has a 50 day simple moving average of $26.06 and a 200 day simple moving average of $23.67. The firm has a market capitalization of $201.92 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.56.
AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (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, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.
AT&T Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 annualized dividend and a yield of 3.95%. AT&T's payout ratio is 74.50%.
About AT&T
(
Free Report)
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.
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