AT&T Inc. (NYSE:T) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,030 shares of the technology company’s stock after selling 685 shares during the quarter. First City Capital Management Inc.’s holdings in AT&T were worth $843,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of T. Geode Capital Management LLC grew its position in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. FMR LLC boosted its holdings in 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 acquiring an additional 1,149,688 shares during the last quarter. Legal & General Group Plc increased its position in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. lifted its position in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, UBS Group lifted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.53.

AT&T Trading Down 0.3 %

T traded down $0.06 during trading on Friday, reaching $22.77. 15,314,482 shares of the company’s stock were exchanged, compared to its average volume of 20,937,984. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market capitalization of $163.38 billion, a PE ratio of 18.51, a P/E/G ratio of 3.60 and a beta of 0.59. The company’s fifty day moving average price is $22.80 and its 200-day moving average price is $21.03.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. As a group, equities analysts forecast that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.