AT&T Inc. (NYSE:T) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP reduced its position in shares of AT&T Inc. (NYSE:T) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,315,793 shares of the technology company’s stock after selling 213,327 shares during the quarter. AT&T comprises 1.4% of Invenomic Capital Management LP’s portfolio, making the stock its 11th largest holding. Invenomic Capital Management LP’s holdings in AT&T were worth $29,961,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of T. Norges Bank purchased a new position in AT&T during the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC grew its holdings in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. Northern Trust Corp raised its position in AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after buying an additional 10,945,679 shares during the period. Assetmark Inc. lifted its stake in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares in the last quarter. Finally, Invesco Ltd. boosted its position in AT&T by 18.2% during the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock worth $1,085,034,000 after acquiring an additional 7,347,354 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 1.5 %

Shares of AT&T stock opened at $27.88 on Friday. The business has a fifty day simple moving average of $27.15 and a 200 day simple moving average of $24.75. The stock has a market cap of $200.61 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12 month low of $17.11 and a 12 month high of $29.03.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. AT&T’s quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is 68.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Tigress Financial increased their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company increased their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. Oppenheimer increased their price objective on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Finally, DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T 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.