Professional Advisory Services Inc. Has $22.08 Million Stock Holdings in AT&T Inc. (NYSE:T)

Professional Advisory Services Inc. trimmed its position in AT&T Inc. (NYSE:T) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 969,873 shares of the technology company’s stock after selling 45,201 shares during the quarter. AT&T comprises approximately 3.0% of Professional Advisory Services Inc.’s holdings, making the stock its 11th largest position. Professional Advisory Services Inc.’s holdings in AT&T were worth $22,084,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in 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 buying an additional 3,630,972 shares during the last quarter. FMR LLC grew its stake in shares of AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the last quarter. Legal & General Group Plc increased its position in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares during the period. Ameriprise Financial Inc. raised its stake in AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in 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 purchasing an additional 675,082 shares during the period. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Evercore ISI raised their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Sanford C. Bernstein initiated coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Trading Up 1.2 %

Shares of T opened at $22.30 on Friday. The stock has a fifty day moving average price of $22.79 and a two-hundred day moving average price of $21.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market cap of $159.97 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings results 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 business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.