Carnegie Capital Asset Management LLC Cuts Stake in AT&T Inc. (NYSE:T)

Carnegie Capital Asset Management LLC lowered its holdings in shares of AT&T Inc. (NYSE:T) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,296 shares of the technology company’s stock after selling 1,712 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in AT&T were worth $341,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in AT&T by 0.5% during the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock valued at $5,530,602,000 after buying an additional 1,567,008 shares in the last quarter. Newport Trust Company LLC lifted its stake in shares of AT&T by 0.3% in the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after purchasing an additional 673,043 shares during the last quarter. Morgan Stanley lifted its stake in shares of 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 purchasing an additional 29,769,976 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of 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 purchasing an additional 76,746,649 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of AT&T by 2.5% in the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after purchasing an additional 1,828,237 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.2 %

Shares of NYSE T opened at $16.12 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $17.02 and a two-hundred day simple moving average of $16.48. The firm has a market cap of $115.30 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.87.

AT&T (NYSE:T) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $31.44 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Friday, January 19th. Tigress Financial raised their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Barclays raised their price target on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, Citigroup raised their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company 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.