Desjardins Global Asset Management Inc. Sells 12,047 Shares of AT&T Inc. (NYSE:T)

Desjardins Global Asset Management Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 214,311 shares of the technology company’s stock after selling 12,047 shares during the period. Desjardins Global Asset Management Inc.’s holdings in AT&T were worth $3,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Moneta Group Investment Advisors LLC grew its holdings in AT&T by 85,003.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after buying an additional 76,746,649 shares in the last quarter. Norges Bank acquired a new position in AT&T in the 4th quarter valued at $1,229,499,000. Ameriprise Financial Inc. grew its holdings in AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after buying an additional 34,189,954 shares in the last quarter. FMR LLC grew its holdings in AT&T by 130.5% in the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after buying an additional 32,558,342 shares in the last quarter. Finally, Morgan Stanley grew its holdings in AT&T by 37.3% in the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after buying an additional 29,769,976 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

NYSE:T traded down $0.16 during trading hours on Tuesday, hitting $16.08. The company’s stock had a trading volume of 31,493,874 shares, compared to its average volume of 38,393,629. The stock has a fifty day simple moving average of $17.07 and a 200-day simple moving average of $16.48. The company has a market capitalization of $115.02 billion, a P/E ratio of 8.16, a PEG ratio of 2.46 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.92.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given 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 6.90%. AT&T’s dividend payout ratio is presently 56.63%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays upped their price objective on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Tigress Financial increased their target price on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Citigroup increased their target price on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $20.68.

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.