Trexquant Investment LP Reduces Stake in AT&T Inc. (NYSE:T)

Trexquant Investment LP cut its stake in shares of AT&T Inc. (NYSE:T) by 26.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,259 shares of the technology company’s stock after selling 41,787 shares during the period. Trexquant Investment LP’s holdings in AT&T were worth $1,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Corient Private Wealth LLC increased its holdings in shares of AT&T by 9.5% in the fourth quarter. Corient Private Wealth LLC now owns 2,218,833 shares of the technology company’s stock worth $37,232,000 after purchasing an additional 192,391 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of AT&T by 9.9% in the fourth quarter. D.A. Davidson & CO. now owns 485,857 shares of the technology company’s stock worth $8,153,000 after purchasing an additional 43,604 shares during the last quarter. Sachetta LLC bought a new stake in shares of AT&T in the fourth quarter worth about $86,000. Clearbridge Investments LLC increased its holdings in shares of AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 48,091 shares during the last quarter. Finally, Thoroughbred Financial Services LLC increased its holdings in shares of AT&T by 9.9% in the fourth quarter. Thoroughbred Financial Services LLC now owns 20,077 shares of the technology company’s stock worth $336,000 after purchasing an additional 1,816 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.2 %

Shares of NYSE:T opened at $17.50 on Monday. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The business has a 50 day simple moving average of $17.05 and a two-hundred day simple moving average of $16.87. The firm has a market capitalization of $125.48 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 3.44 and a beta of 0.57. 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 (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, equities analysts predict that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.34%. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on T shares. Scotiabank boosted their price objective 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. Tigress Financial boosted their price objective on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Monday, April 29th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.