AT&T Inc. (NYSE:T) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its position in AT&T Inc. (NYSE:T) by 27.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,926,158 shares of the technology company’s stock after selling 1,122,179 shares during the quarter. Canada Pension Plan Investment Board’s holdings in AT&T were worth $51,500,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of T. Blackston Financial Advisory Group LLC acquired a new stake in shares of AT&T in the fourth quarter valued at $360,000. Schechter Investment Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter valued at $269,000. MJP Associates Inc. ADV lifted its holdings in shares of AT&T by 22.3% during the fourth quarter. MJP Associates Inc. ADV now owns 18,725 shares of the technology company’s stock valued at $314,000 after purchasing an additional 3,415 shares during the last quarter. Trueblood Wealth Management LLC purchased a new stake in shares of AT&T during the fourth quarter valued at $219,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of AT&T by 34.3% during the fourth quarter. Ritholtz Wealth Management now owns 57,607 shares of the technology company’s stock valued at $967,000 after purchasing an additional 14,723 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE T opened at $19.01 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.63 and a current ratio of 0.70. The firm has a market cap of $136.30 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 3.65 and a beta of 0.58. The business’s 50-day simple moving average is $18.32 and its 200-day simple moving average is $17.47. AT&T Inc. has a 52 week low of $13.89 and a 52 week high of $19.74.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.84%. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on T shares. Scotiabank upped their target price on AT&T from $23.00 to $24.00 and gave the company a “sector outperform” rating in a report on Thursday. UBS Group reissued a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Barclays upped their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $22.33.

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.