Geller Advisors LLC Has $571,000 Position in AT&T Inc. (NYSE:T)

Geller Advisors LLC lessened its holdings in AT&T Inc. (NYSE:T) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,088 shares of the technology company’s stock after selling 673 shares during the period. Geller Advisors LLC’s holdings in AT&T were worth $571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in AT&T in the fourth quarter worth $1,858,418,000. GQG Partners LLC grew its holdings in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. Northern Trust Corp increased its position in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. Assetmark Inc. lifted 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 purchasing an additional 9,719,036 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of AT&T by 18.2% during the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock valued at $1,085,034,000 after purchasing an additional 7,347,354 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $27.88 on Friday. The stock’s 50-day simple moving average is $27.15 and its 200 day simple moving average is $24.73. AT&T Inc. has a 52-week low of $17.11 and a 52-week high of $29.03. 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 company has a market cap of $200.61 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.98%. AT&T’s payout ratio is presently 68.10%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Evercore ISI raised their price target on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Citigroup reissued a “buy” rating on shares of AT&T in a report on Monday, April 7th. DZ Bank upgraded 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 Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

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.