New York Life Investment Management LLC Sells 7,259 Shares of AT&T Inc. (NYSE:T)

New York Life Investment Management LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,017,593 shares of the technology company’s stock after selling 7,259 shares during the quarter. New York Life Investment Management LLC’s holdings in AT&T were worth $17,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sora Investors LLC bought a new stake in AT&T in the third quarter valued at about $11,265,000. Checchi Capital Advisers LLC increased its holdings in AT&T by 3.1% in the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after purchasing an additional 1,178 shares during the last quarter. Retireful LLC bought a new stake in AT&T in the fourth quarter valued at about $1,163,000. Terril Brothers Inc. increased its holdings in AT&T by 51.6% in the third quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after purchasing an additional 202,637 shares during the last quarter. Finally, Breakwater Capital Group increased its holdings in AT&T by 10.5% in the fourth quarter. Breakwater Capital Group now owns 30,770 shares of the technology company’s stock valued at $517,000 after purchasing an additional 2,927 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $17.00 on Thursday. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The stock has a market cap of $121.60 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 3.32 and a beta of 0.57. The business has a 50 day moving average of $16.96 and a 200-day moving average of $16.62. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. On average, equities research analysts expect that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.53%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. Scotiabank increased their price target on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, TheStreet raised AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.81.

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.