Guggenheim Capital LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Guggenheim Capital LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 863,792 shares of the technology company’s stock after selling 136,952 shares during the quarter. Guggenheim Capital LLC’s holdings in AT&T were worth $19,669,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of AT&T in the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC boosted its position in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after buying an additional 26,280,866 shares during the period. Assetmark Inc. boosted its position in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after buying an additional 9,719,036 shares during the period. Invesco Ltd. grew its stake in shares of AT&T by 18.2% in the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock valued at $1,085,034,000 after buying an additional 7,347,354 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after buying an additional 6,220,442 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Oppenheimer lifted their target price on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. UBS Group upped their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, January 16th. BNP Paribas raised 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. Finally, Royal Bank of Canada lifted their target price on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.24.

AT&T Stock Performance

NYSE T opened at $27.49 on Wednesday. The company has a fifty day moving average of $26.71 and a two-hundred day moving average of $24.05. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $29.03. The company has a market capitalization of $197.35 billion, a PE ratio of 18.45, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last released its quarterly 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 return on equity of 13.97% and a net margin of 8.95%. As a group, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

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 given a $0.2775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.04%. AT&T’s dividend payout ratio (DPR) is 74.50%.

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.