Beverly Hills Private Wealth LLC Has $178,000 Position in AT&T Inc. (NYSE:T)

Beverly Hills Private Wealth LLC reduced its holdings in AT&T Inc. (NYSE:T) by 25.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,588 shares of the technology company’s stock after selling 3,581 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in AT&T were worth $178,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its position in AT&T by 85,003.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after buying an additional 76,746,649 shares in the last quarter. Norges Bank acquired a new stake in AT&T during the fourth quarter worth about $1,229,499,000. Ameriprise Financial Inc. grew its position in AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after buying an additional 34,189,954 shares in the last quarter. FMR LLC grew its position in AT&T by 130.5% during the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after buying an additional 32,558,342 shares in the last quarter. Finally, Morgan Stanley grew its position in AT&T by 37.3% during the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after buying an additional 29,769,976 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

T stock opened at $16.09 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The company has a 50 day moving average price of $17.04 and a 200 day moving average price of $16.48. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.92. The stock has a market capitalization of $115.09 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.57.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. During the same quarter last year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio is presently 56.63%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on T. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays raised their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.68.

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.