Mackenzie Financial Corp Cuts Stake in AT&T Inc. (NYSE:T)

Mackenzie Financial Corp lessened its holdings in shares of AT&T Inc. (NYSE:T) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,258,105 shares of the technology company’s stock after selling 319,247 shares during the quarter. Mackenzie Financial Corp’s holdings in AT&T were worth $37,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Carmel Capital Partners LLC boosted its position in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares during the period. FWL Investment Management LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $31,000. Financial Freedom LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $34,000. Lipe & Dalton bought a new position in shares of AT&T in the third quarter valued at approximately $30,000. Finally, Ramirez Asset Management Inc. bought a new position in shares of AT&T in the third quarter valued at approximately $30,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. Tigress Financial raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. Barclays raised their target price on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Citigroup raised their target price on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $20.68.

AT&T Price Performance

T opened at $16.12 on Thursday. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.87. The stock has a 50-day moving average price of $17.02 and a 200-day moving average price of $16.48. 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 firm has a market cap of $115.30 billion, a PE ratio of 8.22, a P/E/G ratio of 2.43 and a beta of 0.57.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. During the same period in the previous year, the company earned $0.61 EPS. AT&T’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.89%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is currently 56.63%.

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.