iA Global Asset Management Inc. Reduces Stock Position in AT&T Inc. $T

iA Global Asset Management Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 567,661 shares of the technology company’s stock after selling 32,012 shares during the quarter. iA Global Asset Management Inc.’s holdings in AT&T were worth $16,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in AT&T in the 2nd quarter worth about $2,228,655,000. Vanguard Group Inc. grew its stake in AT&T by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after acquiring an additional 10,310,560 shares in the last quarter. Marshall Wace LLP bought a new position in AT&T in the 2nd quarter worth about $235,422,000. State Street Corp increased its position in shares of AT&T by 2.4% during the second quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock worth $9,291,781,000 after acquiring an additional 7,404,376 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of AT&T by 59.6% during the second quarter. Acadian Asset Management LLC now owns 14,493,357 shares of the technology company’s stock valued at $419,403,000 after acquiring an additional 5,410,596 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.4%

Shares of NYSE:T opened at $23.59 on Friday. The company has a market capitalization of $167.24 billion, a PE ratio of 7.66, a P/E/G ratio of 1.28 and a beta of 0.39. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $22.22 and a 12-month high of $29.79. The business’s fifty day simple moving average is $24.66 and its 200-day simple moving average is $26.48.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the prior year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s dividend payout ratio is presently 36.04%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on T shares. Wells Fargo & Company lowered their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AT&T in a report on Monday, December 29th. Loop Capital set a $29.00 price target on AT&T in a research report on Friday, December 19th. Williams Trading set a $33.00 price objective on AT&T in a report on Thursday, October 23rd. Finally, Wolfe Research lowered shares of AT&T from an “outperform” rating to a “peer perform” rating in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $29.75.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.