Te Ahumairangi Investment Management Ltd Sells 106,517 Shares of AT&T Inc. (NYSE:T)

Te Ahumairangi Investment Management Ltd reduced its stake in AT&T Inc. (NYSE:T) by 17.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 512,562 shares of the technology company’s stock after selling 106,517 shares during the quarter. AT&T makes up approximately 2.4% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 7th largest position. Te Ahumairangi Investment Management Ltd’s holdings in AT&T were worth $11,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of T. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the third quarter valued at about $25,000. Marshall Investment Management LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $28,000. YANKCOM Partnership acquired a new stake in shares of AT&T during the 4th quarter worth approximately $30,000. Tradewinds Capital Management LLC raised its position in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the period. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T during the 4th quarter valued at approximately $34,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Oppenheimer boosted their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Tigress Financial upped their price objective on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Stock Up 0.7 %

Shares of AT&T stock opened at $28.49 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $28.61. The company has a market capitalization of $204.47 billion, a P/E ratio of 19.12, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a 50 day moving average of $25.94 and a 200 day moving average of $23.64.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.90%. AT&T’s payout ratio is currently 74.50%.

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.