Invenomic Capital Management LP Has $29.96 Million Position in AT&T Inc. (NYSE:T)

Invenomic Capital Management LP decreased its position in AT&T Inc. (NYSE:T) by 14.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,315,793 shares of the technology company’s stock after selling 213,327 shares during the period. AT&T comprises 1.4% of Invenomic Capital Management LP’s portfolio, making the stock its 11th biggest position. Invenomic Capital Management LP’s holdings in AT&T were worth $29,961,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of T. Norges Bank bought a new stake in shares of AT&T in the fourth quarter worth $1,858,418,000. GQG Partners LLC lifted its position in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. Northern Trust Corp boosted its stake in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after buying an additional 10,945,679 shares during the last quarter. Assetmark Inc. grew its holdings in shares of 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 acquiring an additional 9,719,036 shares in the last quarter. Finally, Invesco Ltd. increased 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 valued at $1,085,034,000 after acquiring an additional 7,347,354 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on T shares. Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 16th. BNP Paribas upgraded shares of 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. Sanford C. Bernstein boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Scotiabank reissued an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.71.

AT&T Stock Up 1.5 %

Shares of NYSE T opened at $27.88 on Friday. AT&T Inc. has a 52 week low of $17.11 and a 52 week high of $29.03. The stock’s fifty day moving average is $27.15 and its 200 day moving average is $24.75. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market capitalization of $200.61 billion, a P/E ratio of 18.71, a PEG ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. AT&T’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio is presently 68.10%.

AT&T 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.