Applied Finance Capital Management LLC Sells 5,040 Shares of AT&T Inc. (NYSE:T)

Applied Finance Capital Management LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 5.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 83,697 shares of the technology company’s stock after selling 5,040 shares during the period. Applied Finance Capital Management LLC’s holdings in AT&T were worth $1,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Greenland Capital Management LP purchased a new stake in shares of AT&T during the 4th quarter worth approximately $9,577,000. FIL Ltd grew its holdings in AT&T by 6.7% during the 4th quarter. FIL Ltd now owns 46,158 shares of the technology company’s stock valued at $1,051,000 after purchasing an additional 2,897 shares during the last quarter. Rollins Financial Advisors LLC raised its position in AT&T by 91.0% in the 4th quarter. Rollins Financial Advisors LLC now owns 23,547 shares of the technology company’s stock worth $536,000 after purchasing an additional 11,218 shares during the period. Twin Capital Management Inc. lifted its stake in AT&T by 1.3% in the fourth quarter. Twin Capital Management Inc. now owns 150,005 shares of the technology company’s stock worth $3,416,000 after purchasing an additional 1,856 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of AT&T by 18.2% during the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock valued at $1,085,034,000 after buying an additional 7,347,354 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of T stock opened at $26.80 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market capitalization of $192.40 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The firm’s 50-day moving average is $26.31 and its two-hundred day moving average is $23.80. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $29.03.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s payout ratio is 74.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a research note on Thursday, February 13th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Monday. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Sanford C. Bernstein upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Oppenheimer lifted their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Company 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.