Perpetual Ltd Lowers Position in AT&T Inc. (NYSE:T)

Perpetual Ltd decreased its holdings in shares of AT&T Inc. (NYSE:T) by 36.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 127,700 shares of the technology company’s stock after selling 74,788 shares during the period. Perpetual Ltd’s holdings in AT&T were worth $2,908,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of T. Legacy Investment Solutions LLC purchased a new position in AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. Safe Harbor Fiduciary LLC bought a new position in shares of AT&T in the 3rd quarter worth $35,000. Reston Wealth Management LLC purchased a new stake in shares of AT&T during the 3rd quarter worth $35,000. Finally, Marquette Asset Management LLC bought a new stake in AT&T during the third quarter valued at about $36,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $22.49 on Wednesday. The firm has a market capitalization of $161.40 billion, a P/E ratio of 18.29, a PEG ratio of 3.50 and a beta of 0.59. The stock has a 50-day simple moving average of $22.79 and a two-hundred day simple moving average of $21.37. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, equities analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of several analyst reports. Tigress Financial increased their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Barclays increased their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. Finally, Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $22.00 to $26.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.