AT&T Inc. (NYSE:T) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in AT&T Inc. (NYSE:T) by 1.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,346,704 shares of the technology company’s stock after selling 178,408 shares during the period. Envestnet Asset Management Inc. owned 0.17% of AT&T worth $281,134,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the 3rd quarter valued at $25,000. Marshall Investment Management LLC acquired a new position in shares of AT&T during the fourth quarter worth about $28,000. YANKCOM Partnership purchased a new stake in shares of AT&T in the fourth quarter worth about $30,000. Tradewinds Capital Management LLC grew its stake in shares of AT&T by 48.6% in 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. purchased a new stake in shares of AT&T during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE T opened at $26.65 on Friday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $29.03. The company has a market cap of $191.27 billion, a PE ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.42. The stock has a 50 day simple moving average of $26.26 and a 200-day simple moving average of $23.75. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced 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 return on equity of 13.97% and a net margin of 8.95%. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.17%. AT&T’s dividend payout ratio (DPR) is 74.50%.

Analyst Ratings Changes

T has been the topic of a number of analyst reports. Tigress Financial lifted their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Scotiabank boosted their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Sanford C. Bernstein raised their target price on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, Citigroup raised their price objective on AT&T from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Company Profile

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.