AT&T Inc. (NYSE:T) Stake Lessened by Everence Capital Management Inc.

Everence Capital Management Inc. cut its stake in AT&T Inc. (NYSE:T) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,766 shares of the technology company’s stock after selling 4,900 shares during the period. Everence Capital Management Inc.’s holdings in AT&T were worth $4,708,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in AT&T by 2.3% in 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 period. FMR LLC boosted its holdings in shares of AT&T by 1.9% in the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after buying an additional 1,149,688 shares during the period. Legal & General Group Plc boosted its holdings in shares of AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after buying an additional 1,569,374 shares during the period. Ameriprise Financial Inc. grew its position in shares of AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management raised its stake in AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after acquiring an additional 315,580 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

AT&T stock traded up $0.01 during mid-day trading on Friday, hitting $22.84. The company’s stock had a trading volume of 11,442,640 shares, compared to its average volume of 18,743,699. The stock has a market capitalization of $163.88 billion, a P/E ratio of 18.57, a P/E/G ratio of 3.60 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The stock’s fifty day moving average price is $22.80 and its two-hundred day moving average price is $21.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the firm posted $0.64 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Ratings Changes

Several equities analysts have recently commented on T shares. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.53.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.