Robertson Stephens Wealth Management LLC Sells 2,901 Shares of AT&T Inc. (NYSE:T)

Robertson Stephens Wealth Management LLC lowered its holdings in AT&T Inc. (NYSE:T) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,943 shares of the technology company’s stock after selling 2,901 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in AT&T were worth $469,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Newport Trust Company LLC grew its position in shares of AT&T by 0.3% in the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares during the last quarter. Northern Trust Corp lifted its stake in shares of AT&T by 2.5% in the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after purchasing an additional 1,828,237 shares during the period. FMR LLC lifted its stake in shares of AT&T by 130.5% in the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after purchasing an additional 32,558,342 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after purchasing an additional 34,189,954 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AT&T by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,791,397 shares of the technology company’s stock valued at $747,867,000 after purchasing an additional 327,425 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on T. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Tigress Financial upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Trading Up 0.3 %

T stock traded up $0.05 during mid-day trading on Friday, hitting $16.87. 11,623,280 shares of the company were exchanged, compared to its average volume of 38,959,695. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $120.67 billion, a P/E ratio of 9.03, a PEG ratio of 3.33 and a beta of 0.57. The business has a fifty day simple moving average of $16.97 and a 200-day simple moving average of $16.62. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.58%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.