Exchange Traded Concepts LLC Sells 62,002 Shares of AT&T Inc. (NYSE:T)

Exchange Traded Concepts LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 3.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,628,663 shares of the technology company’s stock after selling 62,002 shares during the period. AT&T comprises about 0.7% of Exchange Traded Concepts LLC’s investment portfolio, making the stock its 18th biggest position. Exchange Traded Concepts LLC’s holdings in AT&T were worth $37,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. AQR Capital Management LLC boosted its position in 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 last quarter. Geode Capital Management LLC increased its position in AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. Franklin Resources Inc. boosted its stake in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. National Pension Service grew its position in shares of AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after buying an additional 2,152,016 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after buying an additional 1,569,374 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.2 %

NYSE T opened at $22.58 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $162.01 billion, a P/E ratio of 18.34, a PEG ratio of 3.50 and a beta of 0.59. The business has a fifty day simple moving average of $22.80 and a 200 day simple moving average of $21.40. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the firm earned $0.64 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.21 EPS 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. Shareholders 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 4.92%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $22.00 to $26.00 in a report on Monday, January 6th. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. The Goldman Sachs Group boosted their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Barclays raised their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Profile

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.