Baxter Bros Inc. Lowers Holdings in AT&T Inc. (NYSE:T)

Baxter Bros Inc. trimmed its position in AT&T Inc. (NYSE:T) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,034 shares of the technology company’s stock after selling 5,530 shares during the quarter. Baxter Bros Inc.’s holdings in AT&T were worth $722,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in T. Ameriprise Financial Inc. lifted its stake 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. FMR LLC lifted its stake in shares of AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after purchasing an additional 32,558,342 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of AT&T by 38.0% during the 3rd quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company’s stock worth $519,070,000 after purchasing an additional 9,518,478 shares during the last quarter. Barclays PLC lifted its stake in shares of AT&T by 30.6% during the 3rd quarter. Barclays PLC now owns 26,227,124 shares of the technology company’s stock worth $393,931,000 after purchasing an additional 6,137,909 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of AT&T by 43.0% during the 3rd quarter. AQR Capital Management LLC now owns 14,739,648 shares of the technology company’s stock worth $221,242,000 after purchasing an additional 4,432,136 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on T. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Citigroup increased their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Trading Up 0.2 %

Shares of NYSE T traded up $0.03 during trading on Friday, reaching $16.85. The stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The business’s 50-day moving average price is $16.97 and its 200-day moving average price is $16.64. The company has a market cap of $120.52 billion, a P/E ratio of 9.06, a PEG ratio of 3.32 and a beta of 0.57.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.59%. AT&T’s dividend payout ratio (DPR) is presently 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.