Wright Investors Service Inc. Has $1.33 Million Stock Holdings in AT&T Inc. (NYSE:T)

Wright Investors Service Inc. cut its stake in shares of AT&T Inc. (NYSE:T) by 52.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,537 shares of the technology company’s stock after selling 64,823 shares during the quarter. Wright Investors Service Inc.’s holdings in AT&T were worth $1,333,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its position in AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC boosted its holdings in AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares during the last quarter. Geode Capital Management LLC increased its position in AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of AT&T by 110.3% during the second quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after buying an additional 3,228,888 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of AT&T by 1,901.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock valued at $60,518,000 after acquiring an additional 3,008,549 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Citigroup raised their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. UBS Group raised their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $25.76.

AT&T Price Performance

Shares of NYSE T opened at $21.56 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business has a 50-day moving average of $22.81 and a 200-day moving average of $21.26. The stock has a market capitalization of $154.70 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 3.60 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, sell-side analysts predict that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date 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.