AT&T Inc. (NYSE:T) Stock Position Trimmed by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,543,425 shares of the technology company’s stock after selling 10,400 shares during the period. AT&T accounts for about 2.0% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 15th biggest holding. Letko Brosseau & Associates Inc. owned 0.06% of AT&T worth $103,454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Consolidated Planning Corp increased its position in shares of AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares during the period. Keystone Financial Group increased its stake in AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after purchasing an additional 143,744 shares in the last quarter. World Investment Advisors boosted its holdings in shares of AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after buying an additional 63,359 shares during the period. Fortress Financial Solutions LLC acquired a new stake in shares of AT&T during the fourth quarter valued at approximately $691,000. Finally, DigitalBridge Group Inc. lifted its position in shares of AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after acquiring an additional 365,776 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 1.5%

Shares of NYSE T opened at $27.88 on Monday. 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 company has a market cap of $200.61 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12-month low of $17.11 and a 12-month high of $29.03. The firm’s 50-day simple moving average is $27.15 and its 200 day simple moving average is $24.77.

AT&T (NYSE:T) last announced its quarterly earnings data 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 the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. On average, research 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 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. This represents a $1.11 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Wall Street Analyst Weigh In

T has been the subject of a number of research reports. DZ Bank raised 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. Barclays upped their price target on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. TD Securities increased their target price on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, April 24th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. Finally, Wells Fargo & Company raised their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

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.