Insigneo Advisory Services LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Insigneo Advisory Services LLC cut its stake in AT&T Inc. (NYSE:T) by 12.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 69,301 shares of the technology company’s stock after selling 10,305 shares during the quarter. Insigneo Advisory Services LLC’s holdings in AT&T were worth $1,578,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of T. Vanguard Group Inc. raised its position in AT&T by 1.0% in the fourth 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 grew its holdings 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 valued at $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC grew its stake in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in AT&T by 7.1% during 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 purchasing an additional 5,649,277 shares during the period. Finally, Norges Bank purchased a new stake in shares of AT&T during the fourth quarter worth approximately $1,858,418,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. Sanford C. Bernstein boosted their target price on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. UBS Group upped their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Monday, April 7th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a research note on Thursday, February 13th. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $27.24.

AT&T Stock Performance

AT&T stock opened at $27.49 on Wednesday. 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 Inc. has a 12 month low of $15.94 and a 12 month high of $29.03. The company has a fifty day moving average price of $26.71 and a two-hundred day moving average price of $24.05. The company has a market cap of $197.35 billion, a PE ratio of 18.45, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (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%. Research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.04%. AT&T’s dividend payout ratio is presently 74.50%.

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.