Alpha Cubed Investments LLC Lowers Stake in AT&T Inc. (NYSE:T)

by · The Markets Daily

Alpha Cubed Investments LLC lessened its stake in AT&T Inc. (NYSE:T – Free Report) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,056 shares of the technology company’s stock after selling 3,540 shares during the period. Alpha Cubed Investments LLC’s holdings in AT&T were worth $525,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares during the period. Geode Capital Management LLC boosted its stake in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. Franklin Resources Inc. increased its holdings in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares during the period. National Pension Service raised its stake in AT&T by 15.8% in the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after buying an additional 2,152,016 shares in the last quarter. Finally, Caxton Associates LP raised its stake in AT&T by 4,115.6% in the second quarter. Caxton Associates LP now owns 2,151,025 shares of the technology company’s stock worth $41,106,000 after buying an additional 2,100,000 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $22.49 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.67 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 50 day moving average of $22.79 and a two-hundred day moving average of $21.37. The firm has a market capitalization of $161.40 billion, a PE ratio of 18.29, a P/E/G ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.93%. AT&T’s payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on T shares. Sanford C. Bernstein started coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, January 16th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. 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 analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Check Out Our Latest Stock Report on AT&T

AT&T Company Profile

(Free Report)

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.

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