Envestnet Portfolio Solutions Inc. Reduces Stock Position in AT&T Inc. $T

Envestnet Portfolio Solutions Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 19.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 273,558 shares of the technology company’s stock after selling 67,897 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in AT&T were worth $7,725,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

T has been the topic of several research reports. TD Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Loop Capital set a $29.00 target price on shares of AT&T in a research report on Friday, December 19th. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Barclays dropped their price objective on shares of AT&T from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Finally, Wells Fargo & Company dropped their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.75.

AT&T Stock Performance

Shares of T stock opened at $23.56 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a market cap of $166.99 billion, a PE ratio of 7.65, a PEG ratio of 1.29 and a beta of 0.39. AT&T Inc. has a 12-month low of $22.54 and a 12-month high of $29.79. The business’s fifty day simple moving average is $24.62 and its 200-day simple moving average is $26.44.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a yield of 4.7%. AT&T’s dividend payout ratio (DPR) is 36.04%.

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.