Empowered Funds LLC Has $10.91 Million Stock Position in AT&T Inc. (NYSE:T)

Empowered Funds LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 41.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 479,218 shares of the technology company’s stock after selling 345,644 shares during the period. Empowered Funds LLC’s holdings in AT&T were worth $10,912,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new stake in AT&T in the 3rd quarter valued at $25,000. YANKCOM Partnership bought a new position in shares of AT&T during the 4th quarter worth about $30,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the period. Endeavor Private Wealth Inc. bought a new position in AT&T during the 4th quarter valued at about $34,000. Finally, Safe Harbor Fiduciary LLC bought a new position in AT&T during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $24.56 on Friday. The firm has a market capitalization of $176.19 billion, a PE ratio of 16.48, a PEG ratio of 2.79 and a beta of 0.59. The company’s 50-day moving average is $23.04 and its 200-day moving average is $21.81. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.98. 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 (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities analysts forecast that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

Analysts Set New Price Targets

T has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company lowered their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. Finally, Sanford C. Bernstein upped their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.21.

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.