Pictet Asset Management Holding SA Sells 63,690 Shares of AT&T Inc. (NYSE:T)

Pictet Asset Management Holding SA lowered its holdings in AT&T Inc. (NYSE:T) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,119,999 shares of the technology company’s stock after selling 63,690 shares during the quarter. Pictet Asset Management Holding SA’s holdings in AT&T were worth $71,042,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in T. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the third quarter valued at $25,000. Marshall Investment Management LLC bought a new position in AT&T during the 4th quarter valued at about $28,000. Tradewinds Capital Management LLC boosted its position in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares in the last quarter. YANKCOM Partnership bought a new stake in AT&T during the fourth quarter worth about $30,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 0.0 %

NYSE:T opened at $28.20 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $28.51. The stock’s fifty day simple moving average is $25.70 and its 200-day simple moving average is $23.53. The firm has a market capitalization of $202.40 billion, a P/E ratio of 18.92, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on T. UBS Group boosted their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Scotiabank boosted their price objective on AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada upped their price target on shares of AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 19th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

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.