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

Victory Capital Management Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 27.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,046,081 shares of the technology company’s stock after selling 1,128,547 shares during the quarter. Victory Capital Management Inc.’s holdings in AT&T were worth $51,113,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the period. JB Capital LLC raised its position in AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after buying an additional 614 shares during the period. Adell Harriman & Carpenter Inc. boosted its position in AT&T by 0.6% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 111,852 shares of the technology company’s stock worth $1,877,000 after acquiring an additional 630 shares during the period. Schubert & Co boosted its holdings in shares of AT&T by 2.0% during the third quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after purchasing an additional 631 shares during the period. Finally, MBM Wealth Consultants LLC boosted its holdings in shares of AT&T by 4.5% during the fourth quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock worth $270,000 after purchasing an additional 678 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.2 %

AT&T stock opened at $16.85 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The firm has a fifty day moving average price of $16.97 and a two-hundred day moving average price of $16.64. The firm has a market cap of $120.52 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate 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. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.59%. AT&T’s dividend payout ratio is 59.68%.

Analysts Set New Price Targets

T has been the subject of a number of research analyst reports. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Tuesday, March 5th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Friday, January 19th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Friday. Scotiabank raised their price target on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Finally, Citigroup boosted their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

About AT&T

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.