AT&T Inc. (NYSE:T) Shares Sold by LGT Group Foundation

LGT Group Foundation trimmed its holdings in AT&T Inc. (NYSE:T) by 27.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,350 shares of the technology company’s stock after selling 57,340 shares during the period. LGT Group Foundation’s holdings in AT&T were worth $3,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of T. 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. Bank of New York Mellon Corp increased its position in AT&T by 7.1% during the fourth 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 purchasing an additional 5,649,277 shares during the last quarter. FMR LLC increased its position in AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Swiss National Bank increased its position in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in AT&T by 1.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock worth $399,467,000 after purchasing an additional 325,073 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 1.0 %

Shares of AT&T stock opened at $27.69 on Tuesday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $27.86. The company has a 50 day moving average of $24.01 and a 200 day moving average of $22.64. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $198.76 billion, a P/E ratio of 18.58, a P/E/G ratio of 3.00 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid 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 4.01%. AT&T’s dividend payout ratio is currently 74.50%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on T. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research report on Thursday, February 13th. Scotiabank lifted their price target on shares of AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday. 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 research report on Thursday, January 16th. Sanford C. Bernstein lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, DZ Bank 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 research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.45.

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.