Contravisory Investment Management Inc. Sells 972 Shares of AT&T Inc. (NYSE:T)

Contravisory Investment Management Inc. decreased its position in AT&T Inc. (NYSE:T) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,231 shares of the technology company’s stock after selling 972 shares during the quarter. Contravisory Investment Management Inc.’s holdings in AT&T were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in T. Mercer Global Advisors Inc. ADV grew its position in AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after acquiring an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 valued at $3,532,684,000 after buying an additional 3,630,972 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in AT&T by 110.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after acquiring an additional 3,228,888 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in AT&T by 1,901.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock worth $60,518,000 after acquiring an additional 3,008,549 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on T shares. Wells Fargo & Company reduced their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. UBS Group upped their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Finally, Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Stock Up 0.5 %

T opened at $21.90 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a fifty day moving average of $22.80 and a 200-day moving average of $21.28. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The company has a market capitalization of $157.14 billion, a P/E ratio of 17.80, a P/E/G ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s revenue was down .5% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

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.