Smith Capital Management Inc. AR ADV cut its stake in shares of AT&T Inc. (NYSE:T) by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,878 shares of the technology company’s stock after selling 1,230 shares during the quarter. Smith Capital Management Inc. AR ADV’s holdings in AT&T were worth $464,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of AT&T by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 35,878,744 shares of the technology company’s stock valued at $1,402,142,000 after purchasing an additional 324,493 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in AT&T by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 28,913,963 shares of the technology company’s stock worth $1,115,032,000 after purchasing an additional 338,283 shares during the period. California Public Employees Retirement System increased its holdings in AT&T by 0.7% in the fourth quarter. California Public Employees Retirement System now owns 28,224,282 shares of the technology company’s stock worth $1,103,005,000 after purchasing an additional 203,881 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in AT&T by 3.7% in the third quarter. Parametric Portfolio Associates LLC now owns 24,601,983 shares of the technology company’s stock worth $930,939,000 after purchasing an additional 878,967 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in AT&T by 1.3% in the fourth quarter. Rhumbline Advisers now owns 13,518,287 shares of the technology company’s stock valued at $528,295,000 after buying an additional 166,945 shares during the period. Hedge funds and other institutional investors own 54.14% of the company’s stock.
Shares of NYSE:T traded down $1.37 during mid-day trading on Thursday, hitting $35.73. 66,286,333 shares of the company traded hands, compared to its average volume of 33,738,047. The stock has a market cap of $256.29 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.94 and a beta of 0.63. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.75. AT&T Inc. has a 12-month low of $29.67 and a 12-month high of $39.70. The stock has a 50-day moving average price of $38.26 and a two-hundred day moving average price of $37.69.
The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, January 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.82%. This is a boost from AT&T’s previous quarterly dividend of $0.51. AT&T’s dividend payout ratio (DPR) is currently 58.26%.
Several brokerages have recently weighed in on T. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Deutsche Bank assumed coverage on AT&T in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $44.00 target price for the company. Tigress Financial reaffirmed a “buy” rating on shares of AT&T in a research note on Friday, January 3rd. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a report on Thursday, November 14th. Finally, UBS Group increased their price target on AT&T from $49.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.03.
In other AT&T news, Director Stephen J. Luczo purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of $37.81 per share, with a total value of $3,781,000.00. 0.07% of the stock is owned by company insiders.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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