Loomis Sayles & Co. L P Cuts Stake in AT&T Inc. (NYSE:T)

Loomis Sayles & Co. L P cut its holdings in shares of AT&T Inc. (NYSE:T) by 3.1% during the 4th quarter, HoldingsChannel reports. The fund owned 40,992 shares of the technology company’s stock after selling 1,317 shares during the quarter. Loomis Sayles & Co. L P’s holdings in AT&T were worth $933,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Icon Wealth Advisors LLC boosted its stake in shares of AT&T by 20.1% during the third quarter. Icon Wealth Advisors LLC now owns 61,330 shares of the technology company’s stock valued at $1,349,000 after purchasing an additional 10,281 shares during the period. Point72 Europe London LLP boosted its position in AT&T by 275.8% during the 3rd quarter. Point72 Europe London LLP now owns 654,974 shares of the technology company’s stock valued at $14,409,000 after buying an additional 480,674 shares during the period. L.M. Kohn & Company increased its position in shares of AT&T by 47.8% in the third quarter. L.M. Kohn & Company now owns 28,693 shares of the technology company’s stock valued at $631,000 after acquiring an additional 9,278 shares during the period. Acropolis Investment Management LLC increased its position in shares of AT&T by 77.1% in the third quarter. Acropolis Investment Management LLC now owns 22,881 shares of the technology company’s stock valued at $503,000 after acquiring an additional 9,961 shares during the period. Finally, Encompass More Asset Management bought a new position in shares of AT&T during the third quarter valued at about $225,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.0 %

AT&T stock opened at $28.20 on Friday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $28.51. The company has a market capitalization of $202.40 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The business’s fifty day simple moving average is $25.70 and its two-hundred day simple moving average is $23.53. 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 announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (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%. As a group, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.94%. AT&T’s payout ratio is currently 74.50%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Sanford C. Bernstein boosted their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Tigress Financial raised their price target on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.79.

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.