AT&T Inc. (NYSE:T) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,898 shares of the technology company’s stock after selling 1,540 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in AT&T were worth $1,022,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. National Pension Service grew its position in shares of AT&T by 15.8% in the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after purchasing an additional 2,152,016 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of AT&T by 112.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after purchasing an additional 1,546,679 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in AT&T by 7.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after buying an additional 1,206,330 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on T. Tigress Financial upped their target price on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday, January 16th. Oppenheimer started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Sanford C. Bernstein boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $28.00 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.21.

AT&T Price Performance

T stock opened at $25.16 on Wednesday. The business’s fifty day moving average price is $23.09 and its 200 day moving average price is $21.90. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $25.18. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $180.50 billion, a PE ratio of 16.88, a P/E/G ratio of 2.79 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%. On average, sell-side analysts anticipate that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.41%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

AT&T 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.