AT&T Inc. (NYSE:T) Shares Sold by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. lessened its stake in AT&T Inc. (NYSE:T) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,670 shares of the technology company’s stock after selling 2,718 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in AT&T were worth $1,700,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after acquiring an additional 6,602,586 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. Public Sector Pension Investment Board increased its position in AT&T by 1,901.0% during the second quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock worth $60,518,000 after purchasing an additional 3,008,549 shares during the last quarter. Franklin Resources Inc. raised its stake in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. Finally, National Pension Service boosted its holdings in AT&T by 15.8% in the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. The Goldman Sachs Group raised their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada raised shares of 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 issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Price Performance

T stock opened at $22.30 on Tuesday. The business’s 50-day moving average is $22.79 and its two-hundred day moving average is $21.35. 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 capitalization of $159.97 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 dividend on an annualized basis and a dividend yield of 4.98%. AT&T’s payout ratio is currently 90.24%.

AT&T 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.