AT&T Inc. (NYSE:T) Holdings Lowered by Martingale Asset Management L P

Martingale Asset Management L P cut its stake in AT&T Inc. (NYSE:T) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,875,259 shares of the technology company’s stock after selling 72,200 shares during the period. AT&T comprises approximately 1.0% of Martingale Asset Management L P’s portfolio, making the stock its 10th largest position. Martingale Asset Management L P’s holdings in AT&T were worth $42,700,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Faithward Advisors LLC boosted its holdings in shares of AT&T by 8.5% in the fourth quarter. Faithward Advisors LLC now owns 28,720 shares of the technology company’s stock valued at $654,000 after acquiring an additional 2,246 shares during the period. APG Asset Management N.V. boosted its stake in AT&T by 344.5% during the 4th quarter. APG Asset Management N.V. now owns 4,849,706 shares of the technology company’s stock worth $106,642,000 after purchasing an additional 3,758,582 shares during the period. Advisory Services Network LLC grew its position in AT&T by 31.9% during the 4th quarter. Advisory Services Network LLC now owns 400,205 shares of the technology company’s stock worth $9,113,000 after purchasing an additional 96,684 shares during the last quarter. Greenland Capital Management LP acquired a new position in AT&T in the fourth quarter valued at $9,577,000. Finally, FIL Ltd raised its holdings in shares of AT&T by 6.7% in the fourth quarter. FIL Ltd now owns 46,158 shares of the technology company’s stock valued at $1,051,000 after buying an additional 2,897 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on T shares. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Sanford C. Bernstein boosted their target price on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Monday. Finally, Scotiabank raised their target price on shares of AT&T from $28.50 to $29.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $27.24.

AT&T Trading Down 1.8 %

Shares of T opened at $26.34 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $29.03. The stock has a market cap of $189.04 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The firm has a 50 day simple moving average of $26.39 and a 200-day simple moving average of $23.85.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.21%. AT&T’s dividend payout ratio is currently 74.50%.

About AT&T

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.