AT&T Inc. (NYSE:T) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 16.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,078 shares of the technology company’s stock after selling 7,070 shares during the quarter. Miracle Mile Advisors LLC’s holdings in AT&T were worth $799,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its holdings 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 in the last quarter. AQR Capital Management LLC grew its holdings 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 purchasing an additional 6,602,586 shares during the period. Geode Capital Management LLC increased its position in AT&T by 2.3% during the third 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 during the last quarter. Canada Pension Plan Investment Board raised its stake in AT&T by 110.3% during the second quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after purchasing an additional 3,228,888 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in AT&T by 1,901.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock valued at $60,518,000 after purchasing an additional 3,008,549 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $21.90 on Thursday. The stock has a market cap of $157.14 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The company has a fifty day simple moving average of $22.80 and a 200-day simple moving average of $21.28. 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 $24.03.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The business 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 quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. Equities analysts expect that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Tigress Financial upped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.76.

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.