BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 66,211 Shares of AT&T Inc. (NYSE:T)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of AT&T Inc. (NYSE:T) by 2.3% during the 4th quarter, Holdings Channel reports. The firm owned 2,850,487 shares of the technology company’s stock after selling 66,211 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AT&T were worth $64,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in T. Vanguard Group Inc. boosted its position in AT&T by 1.0% in the fourth 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 in the last quarter. Geode Capital Management LLC boosted its position in AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after buying an additional 2,640,644 shares in the last quarter. GQG Partners LLC boosted its position in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after buying an additional 5,649,277 shares in the last quarter. Finally, Norges Bank acquired a new stake in AT&T in the fourth quarter valued at approximately $1,858,418,000. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on T shares. JPMorgan Chase & Co. raised their target price on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. TD Securities raised their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, April 24th. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Sanford C. Bernstein raised their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Trading Down 0.9%

NYSE T opened at $27.77 on Wednesday. The company’s 50-day moving average price is $27.26 and its 200-day moving average price is $25.00. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market cap of $199.82 billion, a PE ratio of 18.64, a PEG 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.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same period last year, the company earned $0.55 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared 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 4.00%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

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.