AT&T Inc. (NYSE:T) Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,231 shares of the technology company’s stock after selling 972 shares during the period. Contravisory Investment Management Inc.’s holdings in AT&T were worth $483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its stake 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 worth $270,581,000 after purchasing an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of AT&T by 43.3% during 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 period. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 3,630,972 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of AT&T by 110.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock valued at $117,623,000 after acquiring an additional 3,228,888 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in AT&T by 1,901.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock worth $60,518,000 after purchasing an additional 3,008,549 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of a number of research analyst reports. UBS Group increased their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Sanford C. Bernstein assumed coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.76.

AT&T Trading Up 0.5 %

Shares of T opened at $21.90 on Thursday. The stock’s 50-day moving average price is $22.80 and its 200 day moving average price is $21.28. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The firm has a market capitalization of $157.14 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the company posted $0.64 earnings per share. AT&T’s revenue was down .5% on a year-over-year basis. As a group, research analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.07%. AT&T’s payout ratio is currently 90.24%.

AT&T 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.