AT&T Inc. (NYSE:T) is Invenomic Capital Management LP’s 10th Largest Position

Invenomic Capital Management LP lowered its position in AT&T Inc. (NYSE:T) by 36.4% in the 3rd quarter, Holdings Channel reports. The fund owned 1,529,120 shares of the technology company’s stock after selling 875,572 shares during the quarter. AT&T accounts for 1.8% of Invenomic Capital Management LP’s holdings, making the stock its 10th biggest holding. Invenomic Capital Management LP’s holdings in AT&T were worth $33,641,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. FMR LLC raised its holdings in shares of AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after acquiring an additional 1,149,688 shares during the last quarter. Legal & General Group Plc raised its stake in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Ameriprise Financial Inc. lifted its stake in AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after acquiring an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 2.5 %

NYSE T opened at $23.27 on Tuesday. The business has a fifty day simple moving average of $22.17 and a 200 day simple moving average of $20.17. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.38. The firm has a market capitalization of $166.97 billion, a P/E ratio of 18.92, a PEG ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the business posted $0.64 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on T shares. Barclays increased their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Tigress Financial boosted their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $23.53.

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.