Bartlett & Co. LLC Cuts Stock Position in AT&T Inc. (NYSE:T)

Bartlett & Co. LLC trimmed its position in AT&T Inc. (NYSE:T) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,705 shares of the technology company’s stock after selling 3,163 shares during the period. Bartlett & Co. LLC’s holdings in AT&T were worth $5,863,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. increased its position in AT&T by 0.8% during the 4th quarter. BlackRock Inc. now owns 485,568,654 shares of the technology company’s stock worth $13,964,955,000 after purchasing an additional 3,666,423 shares during the period. Morgan Stanley grew its holdings in AT&T by 4.9% during the fourth quarter. Morgan Stanley now owns 78,703,060 shares of the technology company’s stock worth $2,263,501,000 after acquiring an additional 3,680,978 shares during the period. Norges Bank acquired a new position in AT&T during the fourth quarter worth $2,019,873,000. Bank of New York Mellon Corp raised its position in AT&T by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 61,404,948 shares of the technology company’s stock worth $1,766,006,000 after acquiring an additional 1,360,766 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in AT&T by 5.3% in the fourth quarter. Nuveen Asset Management LLC now owns 37,240,494 shares of the technology company’s stock valued at $1,071,036,000 after acquiring an additional 1,870,844 shares during the period. 51.17% of the stock is currently owned by institutional investors.

Shares of T stock opened at $30.11 on Thursday. The company has a market capitalization of $214.74 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 3.04 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $29.97 and a 200 day moving average price of $29.02. AT&T Inc. has a twelve month low of $26.35 and a twelve month high of $33.24.

AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, January 26th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The business had revenue of $45.70 billion during the quarter, compared to the consensus estimate of $44.58 billion. AT&T had a net margin of 6.42% and a return on equity of 12.27%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, research analysts predict that AT&T Inc. will post 3.17 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Thursday, April 8th. AT&T’s dividend payout ratio is presently 58.26%.

A number of equities analysts have recently issued reports on T shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of AT&T from $36.00 to $31.00 in a report on Monday, February 8th. Raymond James reaffirmed a “buy” rating on shares of AT&T in a report on Monday, March 15th. CIBC reissued a “buy” rating on shares of AT&T in a research note on Wednesday, February 10th. Oppenheimer reaffirmed a “market perform” rating on shares of AT&T in a research note on Wednesday, March 3rd. Finally, Credit Suisse Group reduced their price objective on AT&T from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 19th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $31.82.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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