International Assets Investment Management LLC Has $13 Million Holdings in AT&T Inc. (NYSE:T)

International Assets Investment Management LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 19.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 774,548 shares of the technology company’s stock after selling 186,829 shares during the period. International Assets Investment Management LLC’s holdings in AT&T were worth $12,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Newport Trust Company LLC increased its stake in AT&T by 0.3% in the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after buying an additional 673,043 shares during the last quarter. Northern Trust Corp boosted its position in AT&T by 2.5% during the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after purchasing an additional 1,828,237 shares during the last quarter. FMR LLC grew its stake in AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after purchasing an additional 32,558,342 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of AT&T by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,791,397 shares of the technology company’s stock worth $747,867,000 after purchasing an additional 327,425 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Tigress Financial boosted their price objective on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Performance

Shares of NYSE:T opened at $16.85 on Monday. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The stock has a market capitalization of $120.52 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company’s 50 day simple moving average is $16.97 and its 200 day simple moving average is $16.67.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.59%. The ex-dividend date was Tuesday, April 9th. AT&T’s payout ratio is currently 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.