AT&T Inc. (NYSE:T) Shares Sold by Old Port Advisors

Old Port Advisors trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,655 shares of the technology company’s stock after selling 2,447 shares during the quarter. Old Port Advisors’ holdings in AT&T were worth $2,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its position in AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares during the period. AQR Capital Management LLC raised its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares in the last quarter. Thornburg Investment Management Inc. boosted its holdings in AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares during the period. Jupiter Asset Management Ltd. acquired a new position in AT&T during the 2nd quarter worth $78,570,000. Finally, Geode Capital Management LLC grew its stake in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of several recent analyst reports. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. The Goldman Sachs Group lifted their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. upped their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $25.53.

AT&T Stock Up 1.0 %

AT&T stock traded up $0.22 during midday trading on Thursday, hitting $22.99. 6,168,015 shares of the stock were exchanged, compared to its average volume of 35,480,906. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market cap of $164.96 billion, a P/E ratio of 18.69, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a 50 day moving average price of $22.79 and a two-hundred day moving average price of $21.02.

AT&T (NYSE:T) last released 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. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.19 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 Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.83%. AT&T’s payout ratio is 90.24%.

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.