Investment Counsel Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 8.8% during the first quarter, Holdings Channel.com reports. The fund owned 19,537 shares of the technology company’s stock after selling 1,881 shares during the period. Investment Counsel Inc.’s holdings in AT&T were worth $591,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of AT&T in the 4th quarter valued at $2,019,873,000. Morgan Stanley boosted its holdings in shares of AT&T by 4.9% in the 4th quarter. Morgan Stanley now owns 78,703,060 shares of the technology company’s stock valued at $2,263,501,000 after purchasing an additional 3,680,978 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of AT&T by 0.8% in the 4th quarter. BlackRock Inc. now owns 485,568,654 shares of the technology company’s stock valued at $13,964,955,000 after purchasing an additional 3,666,423 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of AT&T by 56.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 10,121,975 shares of the technology company’s stock valued at $291,106,000 after purchasing an additional 3,663,529 shares in the last quarter. Finally, Dai Ichi Life Insurance Company Ltd boosted its holdings in shares of AT&T by 329.5% in the 4th quarter. Dai Ichi Life Insurance Company Ltd now owns 3,164,225 shares of the technology company’s stock valued at $91,003,000 after purchasing an additional 2,427,547 shares in the last quarter. Hedge funds and other institutional investors own 51.17% of the company’s stock.
T traded down $0.07 during midday trading on Monday, hitting $29.97. 484,525 shares of the company were exchanged, compared to its average volume of 43,579,094. The firm has a market capitalization of $213.74 billion, a P/E ratio of 19.73, a P/E/G ratio of 3.04 and a beta of 0.70. AT&T Inc. has a 1-year low of $26.35 and a 1-year high of $33.24. The firm’s 50 day moving average price is $29.68 and its 200-day moving average price is $28.92. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.78.
AT&T (NYSE:T) last announced its earnings results on Tuesday, January 26th. The technology company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The firm had revenue of $45.70 billion for the quarter, compared to the consensus estimate of $44.58 billion. AT&T had a return on equity of 12.27% and a net margin of 6.42%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. On average, sell-side analysts predict that AT&T Inc. will post 3.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 6.94%. The ex-dividend date is Thursday, April 8th. AT&T’s payout ratio is presently 58.26%.
A number of equities research analysts have weighed in on the company. Credit Suisse Group reduced their target price on AT&T from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Raymond James reaffirmed a “buy” rating on shares of AT&T in a report on Monday, March 15th. Oppenheimer reissued a “market perform” rating on shares of AT&T in a report on Wednesday, March 3rd. CIBC reissued a “buy” rating on shares of AT&T in a report on Wednesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on AT&T from $36.00 to $31.00 in a report on Monday, February 8th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.47.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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