Richelieu Gestion SA Trims Stake in AT&T Inc. (NYSE:T)

Richelieu Gestion SA cut its stake in AT&T Inc. (NYSE:T) by 16.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,946 shares of the technology company’s stock after selling 26,633 shares during the quarter. AT&T comprises about 2.4% of Richelieu Gestion SA’s portfolio, making the stock its 17th biggest position. Richelieu Gestion SA’s holdings in AT&T were worth $2,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in T. Vanguard Group Inc. raised its stake in shares of AT&T by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 622,406,459 shares of the technology company’s stock valued at $10,443,980,000 after buying an additional 2,155,232 shares during the last quarter. Norges Bank acquired a new position in shares of AT&T during the fourth quarter valued at approximately $1,118,288,000. Ameriprise Financial Inc. raised its holdings in shares of AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after acquiring an additional 34,189,954 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AT&T by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after acquiring an additional 798,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after acquiring an additional 1,137,792 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of a number of research analyst reports. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. Oppenheimer reissued an “outperform” rating and set a $21.00 target price on shares of AT&T in a report on Tuesday. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Monday, April 29th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, UBS Group restated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $21.54.

AT&T Price Performance

Shares of T stock traded up $0.07 during midday trading on Wednesday, reaching $18.76. 15,918,067 shares of the company traded hands, compared to its average volume of 36,706,707. The firm’s 50 day simple moving average is $17.42 and its two-hundred day simple moving average is $17.13. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.77. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market cap of $134.51 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 4.25 and a beta of 0.60.

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

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 5.92%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T 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.