Court Place Advisors LLC Sells 6,012 Shares of AT&T Inc. (NYSE:T)

Court Place Advisors LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 16.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,499 shares of the technology company’s stock after selling 6,012 shares during the quarter. Court Place Advisors LLC’s holdings in AT&T were worth $512,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of T. State Street Corp lifted its position in AT&T by 0.5% in the first quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock worth $5,530,602,000 after buying an additional 1,567,008 shares during the last quarter. Newport Trust Company LLC lifted its position in AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares during the last quarter. Morgan Stanley lifted its position in AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after buying an additional 29,769,976 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in AT&T by 85,003.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after buying an additional 76,746,649 shares during the last quarter. Finally, Northern Trust Corp lifted its position in AT&T by 2.5% in the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after buying an additional 1,828,237 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

T has been the subject of several research analyst reports. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Friday, January 19th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Tigress Financial lifted their target price on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and raised their price target for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $20.68.

AT&T Stock Performance

Shares of AT&T stock traded up $0.03 on Wednesday, reaching $16.12. 26,723,488 shares of the stock were exchanged, compared to its average volume of 38,601,246. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.87. The firm has a market capitalization of $115.30 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 2.45 and a beta of 0.57. The business has a 50 day moving average price of $17.04 and a two-hundred day moving average price of $16.48.

AT&T (NYSE:T) last released its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same period last year, the firm earned $0.61 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is presently 56.63%.

AT&T Company Profile

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.