AT&T Inc. (NYSE:T) Holdings Lowered by Keel Point LLC

Keel Point LLC cut its position in shares of AT&T Inc. (NYSE:T) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,563 shares of the technology company’s stock after selling 894 shares during the quarter. Keel Point LLC’s holdings in AT&T were worth $946,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC increased its stake in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after buying an additional 2,640,644 shares during the period. GQG Partners LLC increased its stake in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after buying an additional 26,280,866 shares during the period. Bank of New York Mellon Corp lifted its position in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after buying an additional 5,649,277 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of AT&T during the 4th quarter valued at $1,858,418,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE:T opened at $27.66 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm’s 50-day moving average is $27.04 and its 200-day moving average is $24.48. AT&T Inc. has a 52-week low of $16.73 and a 52-week high of $29.03. The company has a market cap of $198.53 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Analysts Set New Price Targets

Several analysts recently issued reports on T shares. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Monday, April 7th. Barclays lifted their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

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.