AT&T Inc. (NYSE:T) Shares Sold by Comerica Bank

Comerica Bank decreased its stake in shares of AT&T Inc. (NYSE:T) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,140,351 shares of the technology company’s stock after selling 68,794 shares during the period. Comerica Bank’s holdings in AT&T were worth $48,736,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in T. Norges Bank purchased a new stake in shares of AT&T during the 4th quarter worth about $1,858,418,000. GQG Partners LLC increased its position in shares of AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. Northern Trust Corp raised its stake in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares during the period. Assetmark Inc. increased its holdings in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of AT&T by 18.2% in the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock worth $1,085,034,000 after buying an additional 7,347,354 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.1 %

AT&T stock opened at $27.29 on Wednesday. AT&T Inc. has a 52 week low of $16.73 and a 52 week high of $29.03. The firm has a market capitalization of $195.89 billion, a PE ratio of 18.32, a PEG ratio of 3.00 and a beta of 0.42. The business’s 50-day simple moving average is $27.00 and its 200-day simple moving average is $24.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast 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. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Monday, April 7th. Oppenheimer raised their price objective on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. StockNews.com raised AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $28.71.

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.