Robeco Institutional Asset Management B.V. Sells 8,477,007 Shares of AT&T Inc. (NYSE:T)

Robeco Institutional Asset Management B.V. lowered its stake in shares of AT&T Inc. (NYSE:T) by 49.1% during the fourth quarter, Holdings Channel reports. The fund owned 8,781,258 shares of the technology company’s stock after selling 8,477,007 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in AT&T were worth $1,474,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ramirez Asset Management Inc. acquired a new position in AT&T during the 3rd quarter valued at about $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position 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. Financial Gravity Asset Management Inc. lifted its position in AT&T by 3,202.4% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,626 shares during the period. Morton Brown Family Wealth LLC lifted its position in AT&T by 588.2% during the 4th quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock valued at $44,000 after purchasing an additional 2,241 shares during the period. Finally, Northwest Financial Advisors acquired a new position in AT&T during the 4th quarter valued at about $50,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on T. Citigroup increased their price target on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Wolfe Research upgraded shares of 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Price Performance

Shares of T opened at $17.50 on Thursday. The stock has a market capitalization of $125.48 billion, a P/E ratio of 9.41, a P/E/G ratio of 3.40 and a beta of 0.57. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16. The company has a 50 day moving average of $17.03 and a 200-day moving average of $16.84. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

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, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared 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 of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.34%. AT&T’s dividend payout ratio is currently 59.68%.

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.