International Assets Investment Management LLC lowered its position in AT&T Inc. (NYSE:T – Get Rating) by 55.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 189,028 shares of the technology company’s stock after selling 233,340 shares during the period. AT&T accounts for about 0.8% of International Assets Investment Management LLC’s investment portfolio, making the stock its 14th largest holding. International Assets Investment Management LLC’s holdings in AT&T were worth $4,650,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. OLD Mission Capital LLC purchased a new stake in AT&T during the 3rd quarter valued at $453,000. Camden National Bank purchased a new stake in AT&T during the 4th quarter valued at $278,000. New World Advisors LLC boosted its stake in AT&T by 156.1% during the 3rd quarter. New World Advisors LLC now owns 22,642 shares of the technology company’s stock valued at $577,000 after purchasing an additional 13,800 shares during the last quarter. Alliancebernstein L.P. boosted its stake in AT&T by 0.4% during the 3rd quarter. Alliancebernstein L.P. now owns 10,171,802 shares of the technology company’s stock valued at $274,740,000 after purchasing an additional 38,000 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in AT&T by 17.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 61,203 shares of the technology company’s stock valued at $1,653,000 after purchasing an additional 8,937 shares during the last quarter. 53.47% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on T shares. Morgan Stanley lowered their price target on AT&T from $28.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, April 13th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $34.00 to $22.00 in a report on Monday, April 11th. Citigroup lowered their price target on AT&T from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. Barclays decreased their target price on AT&T from $28.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, April 22nd. Finally, Moffett Nathanson assumed coverage on AT&T in a report on Tuesday, April 5th. They issued a $19.00 target price on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, AT&T has an average rating of “Hold” and an average price target of $25.73.
AT&T (NYSE:T – Get Rating) last released its quarterly earnings results on Thursday, April 21st. The technology company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). The company had revenue of $38.10 billion during the quarter, compared to analysts’ expectations of $38.29 billion. AT&T had a return on equity of 13.19% and a net margin of 10.64%. The company’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 EPS. On average, research analysts predict that AT&T Inc. will post 2.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Thursday, April 14th were given a $0.278 dividend. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $1.11 annualized dividend and a yield of 5.60%. AT&T’s dividend payout ratio is currently 46.84%.
AT&T Company Profile (Get Rating)
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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