BIP Wealth LLC Trims Stake in AT&T Inc. (NYSE:T)

BIP Wealth LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,231 shares of the technology company’s stock after selling 1,181 shares during the period. BIP Wealth LLC’s holdings in AT&T were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of AT&T by 5.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 160,701 shares of the technology company’s stock worth $2,697,000 after purchasing an additional 8,433 shares in the last quarter. Magnolia Capital Advisors LLC increased its stake in shares of AT&T by 3.5% in the fourth quarter. Magnolia Capital Advisors LLC now owns 22,717 shares of the technology company’s stock worth $398,000 after purchasing an additional 767 shares in the last quarter. Alaska Permanent Fund Corp increased its stake in shares of AT&T by 1.4% in the fourth quarter. Alaska Permanent Fund Corp now owns 1,014,350 shares of the technology company’s stock worth $17,021,000 after purchasing an additional 14,301 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of AT&T in the fourth quarter worth $120,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of AT&T in the fourth quarter worth $1,007,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

T has been the subject of several research reports. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, March 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Finally, Citigroup raised their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Performance

NYSE T traded down $0.23 on Thursday, hitting $16.58. 26,742,428 shares of the company’s stock traded hands, compared to its average volume of 39,162,723. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $118.59 billion, a PE ratio of 8.44, a P/E/G ratio of 2.49 and a beta of 0.57. The firm’s 50-day moving average price is $16.98 and its two-hundred day moving average price is $16.54. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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 net margin of 11.76% and a return on equity of 15.39%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. As a group, analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is presently 56.63%.

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.