AT&T (T) Shares Sold by Wealthfront Inc.

Wealthfront Inc. cut its stake in AT&T (NYSE:T) by 15.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,380 shares of the technology company’s stock after selling 31,918 shares during the period. Wealthfront Inc.’s holdings in AT&T were worth $6,819,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of AT&T by 0.5% during the 4th quarter. BlackRock Inc. now owns 376,817,093 shares of the technology company’s stock worth $14,650,651,000 after buying an additional 2,043,472 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AT&T by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 68,356,308 shares of the technology company’s stock worth $2,677,458,000 after buying an additional 3,500,299 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AT&T by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 67,677,673 shares of the technology company’s stock worth $2,650,934,000 after buying an additional 1,672,264 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of AT&T by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 38,861,378 shares of the technology company’s stock worth $1,522,111,000 after buying an additional 1,406,265 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of AT&T by 0.6% during the 3rd quarter. Swiss National Bank now owns 25,409,758 shares of the technology company’s stock worth $995,300,000 after buying an additional 148,100 shares during the last quarter. 56.12% of the stock is owned by hedge funds and other institutional investors.

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A number of equities analysts have recently commented on T shares. HSBC upgraded shares of AT&T from a “hold” rating to a “buy” rating and increased their price objective for the stock from $34.90 to $41.00 in a research note on Wednesday, March 28th. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Monday, March 5th. Macquarie restated a “buy” rating and set a $40.00 price objective on shares of AT&T in a research note on Sunday, April 8th. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $40.62 price objective for the company in a research note on Thursday, February 8th. Finally, Deutsche Bank reduced their price objective on shares of AT&T from $41.00 to $36.00 and set a “hold” rating for the company in a research note on Tuesday, May 1st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.95.

Shares of NYSE:T opened at $32.05 on Friday. AT&T has a 52-week low of $31.17 and a 52-week high of $39.80. The stock has a market capitalization of $198.29 billion, a P/E ratio of 10.51, a PEG ratio of 2.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.11 and a quick ratio of 1.11.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 25th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.02). The firm had revenue of $38.04 billion during the quarter, compared to analyst estimates of $39.36 billion. AT&T had a net margin of 19.25% and a return on equity of 14.46%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. sell-side analysts expect that AT&T will post 3.42 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were issued a $0.50 dividend. The ex-dividend date was Monday, April 9th. This represents a $2.00 annualized dividend and a yield of 6.24%. AT&T’s dividend payout ratio is currently 65.57%.

AT&T Company Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

Institutional Ownership by Quarter for AT&T (NYSE:T)