AT&T Inc. (NYSE:T) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 4.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,140 shares of the technology company’s stock after selling 3,199 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in AT&T were worth $1,043,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in shares of AT&T by 0.5% in the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock valued at $5,530,602,000 after acquiring an additional 1,567,008 shares during the period. Newport Trust Company LLC increased its stake in shares of AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after acquiring an additional 673,043 shares during the last quarter. Morgan Stanley increased its stake in shares of AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after acquiring an additional 29,769,976 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after acquiring an additional 76,746,649 shares during the last quarter. Finally, Northern Trust Corp increased its position in AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after purchasing an additional 1,828,237 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 0.4 %

T opened at $16.25 on Tuesday. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.92. The company has a 50-day simple moving average of $17.07 and a 200 day simple moving average of $16.48. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $116.20 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 2.46 and a beta of 0.57.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same period in the previous year, the firm posted $0.61 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.83%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 56.63%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on T shares. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Barclays raised their price target on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and raised their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Citigroup raised their target price on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.68.

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.