AT&T Inc. (NYSE:T) Stake Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,346,704 shares of the technology company’s stock after selling 178,408 shares during the period. Envestnet Asset Management Inc.’s holdings in AT&T were worth $281,134,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T during the third quarter worth $25,000. Marshall Investment Management LLC purchased a new position in AT&T in the 4th quarter worth about $28,000. YANKCOM Partnership acquired a new stake in AT&T during the 4th quarter worth about $30,000. Tradewinds Capital Management LLC lifted its stake in 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 buying an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of AT&T in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the topic of a number of recent analyst reports. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada increased their target price on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. UBS Group lifted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. 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 research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.21.

AT&T Price Performance

Shares of NYSE:T opened at $26.65 on Friday. The stock has a market capitalization of $191.27 billion, a P/E ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.42. The business has a 50-day moving average of $26.26 and a two-hundred day moving average of $23.75. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s dividend payout ratio is currently 74.50%.

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.