AT&T Inc. $T Shares Sold by Trek Financial LLC

by · The Markets Daily

Trek Financial LLC reduced its stake in AT&T Inc. (NYSE:T – Free Report) by 65.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,115 shares of the technology company’s stock after selling 114,359 shares during the quarter. Trek Financial LLC’s holdings in AT&T were worth $1,698,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of T. Norges Bank purchased a new position in shares of AT&T in the second quarter worth $2,228,655,000. Vanguard Group Inc. increased its position in shares of AT&T by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after acquiring an additional 10,310,560 shares during the period. Marshall Wace LLP purchased a new position in AT&T in the 2nd quarter worth $235,422,000. State Street Corp lifted its position in AT&T by 2.4% during the 2nd quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock worth $9,291,781,000 after acquiring an additional 7,404,376 shares during the period. Finally, Acadian Asset Management LLC grew its stake in AT&T by 59.6% during the 2nd quarter. Acadian Asset Management LLC now owns 14,493,357 shares of the technology company’s stock valued at $419,403,000 after purchasing an additional 5,410,596 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 0.1%

Shares of NYSE:T opened at $23.56 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $22.54 and a 12-month high of $29.79. The business has a 50 day moving average of $24.62 and a two-hundred day moving average of $26.44. The company has a market capitalization of $166.99 billion, a PE ratio of 7.65, a PEG ratio of 1.29 and a beta of 0.39.

AT&T (NYSE:T – Get Free Report) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a yield of 4.7%. AT&T’s payout ratio is presently 36.04%.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Barclays reduced their price objective on AT&T from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. The Goldman Sachs Group cut their price target on shares of AT&T from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, December 19th. KeyCorp restated an “overweight” rating on shares of AT&T in a research note on Wednesday. Loop Capital set a $29.00 price objective on shares of AT&T in a report on Friday, December 19th. Finally, Wells Fargo & Company cut their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $29.75.

Get Our Latest Analysis on AT&T

AT&T Company Profile

(Free Report)

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.

Read More

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T – Free Report).