AT&T Inc. (NYSE:T) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its position in AT&T Inc. (NYSE:T) by 9.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 584,837 shares of the technology company’s stock after selling 60,755 shares during the period. AT&T makes up 0.5% of International Assets Investment Management LLC’s investment portfolio, making the stock its 15th largest holding. International Assets Investment Management LLC’s holdings in AT&T were worth $16,539,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in T. Norges Bank acquired a new position in AT&T during the fourth quarter valued at approximately $1,858,418,000. GQG Partners LLC grew its position in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of AT&T by 16.3% in the fourth 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 in the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of AT&T by 4,986.1% in the fourth 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. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on T shares. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, June 17th. Morgan Stanley restated an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company upped their price target on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Tigress Financial upped their price target on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $28.76.

AT&T Price Performance

Shares of AT&T stock opened at $28.23 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.03. The firm has a fifty day moving average price of $27.55 and a two-hundred day moving average price of $25.84. The company has a market cap of $203.13 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 3.87 and a beta of 0.41.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. Analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

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.