Jupiter Asset Management Ltd. Reduces Holdings in AT&T Inc. (NYSE:T)

Jupiter Asset Management Ltd. cut its stake in AT&T Inc. (NYSE:T) by 44.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,918,551 shares of the technology company’s stock after selling 2,335,053 shares during the period. Jupiter Asset Management Ltd.’s holdings in AT&T were worth $66,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Legacy Investment Solutions LLC bought a new stake in AT&T during the third quarter worth about $25,000. Marshall Investment Management LLC purchased a new stake in AT&T during the 4th quarter valued at about $28,000. Ritter Daniher Financial Advisory LLC DE grew its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. YANKCOM Partnership purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $30,000. Finally, Tradewinds Capital Management LLC grew its holdings in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $26.02 on Wednesday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.97. The company has a 50-day moving average price of $24.46 and a 200 day moving average price of $22.94. The stock has a market cap of $186.74 billion, a PE ratio of 17.46, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays increased their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein increased their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Tigress Financial raised their price target on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $26.74.

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.