Assenagon Asset Management S.A. Cuts Stock Position in AT&T Inc. (NYSE:T)

Assenagon Asset Management S.A. lessened its holdings in AT&T Inc. (NYSE:T) by 1.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 306,254 shares of the technology company’s stock after selling 3,936 shares during the quarter. Assenagon Asset Management S.A.’s holdings in AT&T were worth $6,973,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the third quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T during the 2nd quarter valued at $30,000. Reston Wealth Management LLC bought a new position in AT&T in the 3rd quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in AT&T in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on T. Citigroup boosted their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group lifted their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. The Goldman Sachs Group increased their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Barclays upped their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI increased their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Performance

T opened at $22.30 on Monday. The firm has a market cap of $159.97 billion, a P/E ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The company has a 50 day simple moving average of $22.79 and a two-hundred day simple moving average of $21.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s payout ratio is 90.24%.

AT&T Company 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.