Oppenheimer & Co. Inc. reduced its stake in shares of AT&T Inc. (NYSE:T – Get Rating) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 814,599 shares of the technology company’s stock after selling 71,048 shares during the period. Oppenheimer & Co. Inc.’s holdings in AT&T were worth $12,496,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of AT&T by 44.3% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 34,252,184 shares of the technology company’s stock valued at $717,926,000 after acquiring an additional 10,508,871 shares during the last quarter. Ensign Peak Advisors Inc grew its position in AT&T by 296.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,745,375 shares of the technology company’s stock worth $246,182,000 after purchasing an additional 8,783,340 shares during the period. Great West Life Assurance Co. Can acquired a new stake in AT&T during the 3rd quarter worth about $122,863,000. CI Investments Inc. raised its stake in shares of AT&T by 855,303.6% during the 2nd quarter. CI Investments Inc. now owns 7,510,444 shares of the technology company’s stock valued at $157,419,000 after buying an additional 7,509,566 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of AT&T by 64.9% in the 2nd quarter. Federated Hermes Inc. now owns 18,664,433 shares of the technology company’s stock valued at $391,206,000 after buying an additional 7,347,706 shares during the period. 51.86% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
T has been the subject of several recent research reports. Morgan Stanley cut AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price target for the company. in a research report on Thursday, December 15th. Citigroup boosted their target price on shares of AT&T from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Barclays raised their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, October 24th. TheStreet downgraded shares of AT&T from a “b” rating to a “c” rating in a research report on Wednesday, January 25th. Finally, Cowen raised their target price on AT&T from $24.00 to $25.00 in a research report on Thursday, January 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.00.
AT&T Price Performance
T stock traded down $0.03 during mid-day trading on Wednesday, reaching $19.12. The company’s stock had a trading volume of 8,391,127 shares, compared to its average volume of 35,076,313. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 1.21. The company’s 50 day moving average is $19.12 and its two-hundred day moving average is $18.09. AT&T Inc. has a fifty-two week low of $14.46 and a fifty-two week high of $21.53. The stock has a market cap of $136.27 billion, a PE ratio of -16.09, a P/E/G ratio of 2.35 and a beta of 0.65.
AT&T (NYSE:T – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The technology company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $31.30 billion during the quarter, compared to analysts’ expectations of $31.50 billion. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The business’s revenue for the quarter was down 23.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.42 EPS for the current year.
AT&T Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Monday, January 9th. This represents a $1.11 annualized dividend and a dividend yield of 5.81%. AT&T’s payout ratio is -93.28%.
AT&T Profile
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S.