AT&T Inc. (NYSE:T) Shares Sold by Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group Inc. lowered its holdings in AT&T Inc. (NYSE:T) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,677 shares of the technology company’s stock after selling 7,511 shares during the period. Sumitomo Mitsui Financial Group Inc.’s holdings in AT&T were worth $2,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the 3rd quarter valued at $25,000. Marshall Investment Management LLC purchased a new stake in AT&T during the fourth quarter valued at about $28,000. YANKCOM Partnership acquired a new position in shares of AT&T in the fourth quarter worth about $30,000. Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T during the fourth quarter valued at approximately $34,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 6.8 %

AT&T stock opened at $26.65 on Monday. The business’s 50-day simple moving average is $26.26 and its 200-day simple moving average is $23.76. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $29.03. The firm has a market capitalization of $191.27 billion, a PE ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS 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%. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.17%. AT&T’s dividend payout ratio is 74.50%.

Analyst Ratings Changes

T has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. Royal Bank of Canada increased their price objective on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, January 16th. Finally, Sanford C. Bernstein upped their target price on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.21.

About AT&T

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.