Los Angeles Capital Management LLC Sells 400,861 Shares of AT&T Inc. (NYSE:T)

Los Angeles Capital Management LLC trimmed its position in AT&T Inc. (NYSE:T) by 61.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 248,534 shares of the technology company’s stock after selling 400,861 shares during the period. Los Angeles Capital Management LLC’s holdings in AT&T were worth $5,659,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in AT&T in the fourth quarter valued at $14,700,000. Swiss National Bank boosted its stake in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares in the last quarter. Consolidated Planning Corp increased its position in shares of AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after acquiring an additional 21,927 shares during the last quarter. Finally, Caprock Group LLC raised its holdings in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after acquiring an additional 30,281 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Down 0.2 %

T stock opened at $26.60 on Thursday. The business’s fifty day moving average price is $23.73 and its two-hundred day moving average price is $22.46. The stock has a market capitalization of $190.90 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.00 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.16. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 29th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Royal Bank of Canada boosted their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

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.