CapWealth Advisors LLC Decreases Position in AT&T Inc. (NYSE:T)

CapWealth Advisors LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 9.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 14,794 shares of the technology company’s stock after selling 1,599 shares during the quarter. CapWealth Advisors LLC’s holdings in AT&T were worth $337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in T. Geode Capital Management LLC raised its holdings in AT&T by 2.3% in 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 during the last quarter. FMR LLC increased its holdings in shares of AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Swiss National Bank lifted its position in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in AT&T by 1.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock worth $399,467,000 after buying an additional 325,073 shares during the last quarter. Finally, National Pension Service boosted its stake in AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after buying an additional 2,152,016 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on T. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a report on Thursday. The Goldman Sachs Group boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 29th. Citigroup upped their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.33.

AT&T Price Performance

T stock opened at $25.88 on Friday. The business’s 50-day moving average is $23.19 and its two-hundred day moving average is $21.99. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market capitalization of $185.66 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $25.93.

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%. Analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is presently 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.