AT&T Inc. (NYSE:T) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,904 shares of the technology company’s stock after selling 12,054 shares during the quarter. Raleigh Capital Management Inc.’s holdings in AT&T were worth $1,569,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of AT&T by 43.3% in 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 buying an additional 6,602,586 shares during the period. Geode Capital Management LLC lifted its stake 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 purchasing an additional 3,630,972 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. National Pension Service increased its position in shares of AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after acquiring an additional 2,152,016 shares during the last quarter. Finally, Caxton Associates LP boosted its position in shares of AT&T by 4,115.6% during the 2nd quarter. Caxton Associates LP now owns 2,151,025 shares of the technology company’s stock worth $41,106,000 after purchasing an additional 2,100,000 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.7 %

NYSE:T opened at $22.34 on Thursday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a fifty day simple moving average of $22.80 and a 200-day simple moving average of $21.40. The company has a market capitalization of $160.30 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company 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 quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business 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. This represents a $1.11 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is currently 90.24%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $22.00 to $26.00 in a report on Monday, January 6th. Barclays raised their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Sanford C. Bernstein began coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Evercore ISI lifted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

About AT&T

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.