Letko Brosseau & Associates Inc. Sells 10,400 Shares of AT&T Inc. (NYSE:T)

Letko Brosseau & Associates Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,543,425 shares of the technology company’s stock after selling 10,400 shares during the period. AT&T makes up approximately 2.0% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 15th largest holding. Letko Brosseau & Associates Inc.’s holdings in AT&T were worth $103,454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Marshall Investment Management LLC bought a new position in shares of AT&T during the fourth quarter worth about $28,000. YANKCOM Partnership acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $30,000. Tradewinds Capital Management LLC lifted its position 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 worth $30,000 after purchasing an additional 430 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new position in AT&T during the fourth quarter worth $34,000. Finally, McClarren Financial Advisors Inc. bought a new stake in AT&T during the 4th quarter worth about $35,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Tigress Financial upped their target price on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Sanford C. Bernstein boosted their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Evercore ISI increased their price objective on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Stock Performance

NYSE T opened at $27.88 on Monday. The company has a market capitalization of $200.61 billion, a price-to-earnings ratio of 18.71, a PEG 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 twelve month low of $17.11 and a twelve month high of $29.03. The stock has a fifty day simple moving average of $27.15 and a 200 day simple moving average of $24.77.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio is presently 68.10%.

About AT&T

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.