AT&T Inc. (NYSE:T) Position Trimmed by Proquility Private Wealth Partners LLC

Proquility Private Wealth Partners LLC lowered its stake in AT&T Inc. (NYSE:T) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,595 shares of the technology company’s stock after selling 520 shares during the period. Proquility Private Wealth Partners LLC’s holdings in AT&T were worth $2,222,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after buying an additional 3,630,972 shares in the last quarter. FMR LLC boosted its position in AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. Legal & General Group Plc grew its stake in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of several research reports. Citigroup upped their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Tigress Financial increased their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $28.00 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Stock Performance

Shares of NYSE T opened at $22.49 on Wednesday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a market cap of $161.40 billion, a P/E ratio of 18.29, a P/E/G ratio of 3.50 and a beta of 0.59. The business’s 50 day moving average is $22.79 and its two-hundred day moving average is $21.37.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the company earned $0.64 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.