Te Ahumairangi Investment Management Ltd Has $11.67 Million Stock Holdings in AT&T Inc. (NYSE:T)

Te Ahumairangi Investment Management Ltd decreased its position in shares of AT&T Inc. (NYSE:T) by 17.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 512,562 shares of the technology company’s stock after selling 106,517 shares during the period. AT&T accounts for 2.4% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 7th biggest position. Te Ahumairangi Investment Management Ltd’s holdings in AT&T were worth $11,671,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T in the third quarter worth $25,000. Marshall Investment Management LLC acquired a new position in shares of AT&T in the 4th quarter valued at $28,000. YANKCOM Partnership acquired a new stake in AT&T during the 4th quarter worth about $30,000. Tradewinds Capital Management LLC grew its stake in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of AT&T in the fourth quarter valued at about $34,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on T shares. Citigroup upped their target price on AT&T from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday. UBS Group upped their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Tigress Financial raised their target price on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Royal Bank of Canada upped their price target on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Finally, Scotiabank lifted their price objective on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.21.

AT&T Trading Up 0.7 %

T stock opened at $28.49 on Wednesday. The business’s 50-day moving average is $25.94 and its 200 day moving average is $23.64. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $28.61. The stock has a market cap of $204.47 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 3.00 and a beta of 0.56. 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 issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is 74.50%.

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.