Invesco LLC Reduces Position in AT&T Inc. (NYSE:T)

Invesco LLC decreased its holdings in AT&T Inc. (NYSE:T) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,265 shares of the technology company’s stock after selling 966 shares during the period. Invesco LLC’s holdings in AT&T were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of T. Sora Investors LLC bought a new position in AT&T in the 3rd quarter worth about $11,265,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of AT&T by 2.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock worth $259,219,000 after purchasing an additional 383,015 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of AT&T by 3.1% in the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after purchasing an additional 1,178 shares during the last quarter. Retireful LLC purchased a new stake in AT&T in the fourth quarter valued at approximately $1,163,000. Finally, Terril Brothers Inc. lifted its position in AT&T by 51.6% during the third quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after purchasing an additional 202,637 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $16.25 on Tuesday. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.92. The stock has a market cap of $116.20 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. The company’s fifty day moving average price is $17.07 and its 200-day moving average price is $16.48. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.83%. AT&T’s payout ratio is 56.63%.

Analysts Set New Price Targets

Several research firms have recently weighed in on T. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, March 5th. Barclays upped their price objective on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.68.

AT&T Company Profile

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.