Ellevest Inc. Sells 448 Shares of AT&T Inc. (NYSE:T)

Ellevest Inc. lessened its position in AT&T Inc. (NYSE:T) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,309 shares of the technology company’s stock after selling 448 shares during the period. Ellevest Inc.’s holdings in AT&T were worth $554,000 as of its most recent SEC filing.

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

AT&T Stock Performance

NYSE T opened at $27.88 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $17.11 and a twelve month high of $29.03. The business has a 50-day moving average price of $27.15 and a 200-day moving average price of $24.73. The firm has a market cap of $200.61 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth 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 analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.98%. AT&T’s payout ratio is 68.10%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 price objective on shares of AT&T in a research report on Thursday, April 24th. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. Finally, Barclays raised their price target on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.