AT&T Inc. (NYSE:T) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its holdings in shares of AT&T Inc. (NYSE:T) by 29.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 58,481,621 shares of the technology company’s stock after selling 24,356,903 shares during the quarter. AT&T makes up about 1.1% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 8th largest position. Arrowstreet Capital Limited Partnership’s holdings in AT&T were worth $1,331,627,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in T. 1620 Investment Advisors Inc. increased its stake in AT&T by 1.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock valued at $596,000 after acquiring an additional 421 shares during the period. Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares during the period. Whittier Trust Co. raised its stake in shares of AT&T by 0.7% in the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock valued at $1,352,000 after purchasing an additional 433 shares in the last quarter. Wealthstream Advisors Inc. lifted its position in AT&T by 3.7% in the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after purchasing an additional 444 shares during the period. Finally, Northeast Investment Management boosted its stake in AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after buying an additional 451 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

NYSE:T opened at $28.20 on Friday. The stock has a market capitalization of $202.40 billion, a PE ratio of 18.92, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $28.51. The firm has a fifty day simple moving average of $25.70 and a 200 day simple moving average of $23.53. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate 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, research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.94%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on T shares. Argus raised shares of 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. The Goldman Sachs Group upped their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Citigroup raised their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.79.

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.