MMA Asset Management LLC Sells 5,903 Shares of AT&T Inc. (NYSE:T)

MMA Asset Management LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 23.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,339 shares of the technology company’s stock after selling 5,903 shares during the period. MMA Asset Management LLC’s holdings in AT&T were worth $440,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares during the last quarter. Geode Capital Management LLC increased its holdings in AT&T by 2.3% in 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 acquiring an additional 3,630,972 shares during the last quarter. Franklin Resources Inc. increased its holdings in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. National Pension Service increased 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 worth $346,934,000 after acquiring an additional 2,152,016 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in AT&T by 112.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock worth $64,167,000 after acquiring an additional 1,546,679 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

NYSE:T opened at $27.45 on Friday. The business has a 50 day moving average of $23.91 and a 200 day moving average of $22.56. The company has a market capitalization of $197.01 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 3.00 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.04%. AT&T’s payout ratio is 74.50%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Royal Bank of Canada lifted their price objective on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday, January 16th. Barclays lifted their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

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.