Grantham Mayo Van Otterloo & Co. LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Grantham Mayo Van Otterloo & Co. LLC lowered its stake in AT&T Inc. (NYSE:T) by 21.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,413 shares of the technology company’s stock after selling 17,200 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in AT&T were worth $1,467,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of AT&T by 1.7% in the third quarter. Wellington Management Group LLP now owns 965,383 shares of the technology company’s stock worth $21,238,000 after buying an additional 16,024 shares during the last quarter. EP Wealth Advisors LLC raised its position in AT&T by 35.4% in the third quarter. EP Wealth Advisors LLC now owns 155,893 shares of the technology company’s stock worth $3,430,000 after acquiring an additional 40,734 shares during the period. XTX Topco Ltd purchased a new position in shares of AT&T during the 3rd quarter worth $502,000. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the 3rd quarter valued at $25,000. Finally, Hodges Capital Management Inc. increased its stake in shares of AT&T by 6.6% in the 3rd quarter. Hodges Capital Management Inc. now owns 46,354 shares of the technology company’s stock worth $1,020,000 after purchasing an additional 2,854 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE:T opened at $26.80 on Tuesday. The firm has a fifty day simple moving average of $26.31 and a two-hundred day simple moving average of $23.80. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $192.40 billion, a P/E ratio of 17.99, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $29.03.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.14%. AT&T’s dividend payout ratio is presently 74.50%.

Analyst Ratings Changes

Several research firms have issued reports on T. Tigress Financial boosted their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Citigroup restated a “buy” rating on shares of AT&T in a research note on Monday. Royal Bank of Canada upped their price target on shares of AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 19th. Finally, BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.21.

About AT&T

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.