Brookstone Capital Management Reduces Position in AT&T Inc. (NYSE:T)

Brookstone Capital Management lessened its stake in shares of AT&T Inc. (NYSE:T) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 741,661 shares of the technology company’s stock after selling 51,479 shares during the period. Brookstone Capital Management’s holdings in AT&T were worth $16,888,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. FMR LLC boosted its holdings in shares of AT&T by 1.9% in the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after acquiring an additional 1,149,688 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after acquiring an additional 675,082 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.8 %

AT&T stock traded down $0.17 during midday trading on Monday, hitting $21.52. 7,044,288 shares of the stock were exchanged, compared to its average volume of 29,786,266. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The stock has a market capitalization of $154.41 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 3.60 and a beta of 0.59. The stock’s 50-day simple moving average is $22.81 and its 200 day simple moving average is $21.24. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the business earned $0.64 earnings per share. AT&T’s revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on T shares. UBS Group increased their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Citigroup increased their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Tigress Financial increased their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.76.

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.