Bank of Montreal Can Sells 2,151,259 Shares of AT&T Inc. (NYSE:T)

Bank of Montreal Can decreased its position in shares of AT&T Inc. (NYSE:T) by 14.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,091,620 shares of the technology company’s stock after selling 2,151,259 shares during the period. Bank of Montreal Can owned approximately 0.18% of AT&T worth $298,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of T. International Assets Investment Management LLC bought a new stake in AT&T during the fourth quarter worth about $14,700,000. Franklin Resources Inc. lifted its holdings in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares during the period. Consolidated Planning Corp boosted 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 worth $7,288,000 after acquiring an additional 21,927 shares in the last quarter. World Investment Advisors increased its stake in AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after acquiring an additional 63,359 shares during the last quarter. Finally, Fortress Financial Solutions LLC acquired a new position in AT&T during the fourth quarter valued at approximately $691,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Argus raised 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. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price target on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Citigroup raised their target price on shares of AT&T from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, March 31st. Finally, Sanford C. Bernstein upped their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.21.

AT&T Stock Down 6.8 %

Shares of NYSE:T opened at $26.65 on Monday. The firm has a market cap of $191.27 billion, a P/E ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.42. The business’s 50 day simple moving average is $26.26 and its two-hundred day simple moving average is $23.76. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $29.03.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

About AT&T

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.