SevenBridge Financial Group LLC Trims Stock Position in AT&T Inc. (NYSE:T)

SevenBridge Financial Group LLC lessened its stake in AT&T Inc. (NYSE:T) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,256 shares of the technology company’s stock after selling 849 shares during the period. SevenBridge Financial Group LLC’s holdings in AT&T were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Vanguard Group Inc. boosted its stake in AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC boosted its stake in shares of AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after buying an additional 2,640,644 shares during the period. 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 worth $2,203,667,000 after buying an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp increased its position in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Finally, Norges Bank purchased a new stake in AT&T during the 4th quarter valued at approximately $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Oppenheimer boosted their target price on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $27.21.

AT&T Stock Down 1.2 %

T stock opened at $28.13 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $28.61. The firm has a market capitalization of $201.92 billion, a PE ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.56. The company’s 50 day simple moving average is $26.06 and its 200-day simple moving average is $23.67.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. AT&T’s dividend payout ratio (DPR) is 74.50%.

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.