Boltwood Capital Management Reduces Position in AT&T Inc. (NYSE:T)

Boltwood Capital Management lowered its position in shares of AT&T Inc. (NYSE:T) by 33.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 24,073 shares of the technology company’s stock after selling 12,159 shares during the quarter. Boltwood Capital Management’s holdings in AT&T were worth $548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of T. Mercer Global Advisors Inc. ADV grew its stake in shares of AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC increased its stake in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the period. Thornburg Investment Management Inc. raised its position in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of AT&T in the 2nd quarter worth $78,570,000. Finally, Geode Capital Management LLC boosted its holdings in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on T shares. JPMorgan Chase & Co. upped their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Tigress Financial upped their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $22.00 to $26.00 in a research note on Monday. Finally, Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Stock Down 0.6 %

Shares of T stock traded down $0.13 during trading hours on Monday, hitting $22.54. 12,350,626 shares of the company were exchanged, compared to its average volume of 21,797,539. The stock has a market capitalization of $161.73 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 3.60 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The business’s 50-day simple moving average is $22.82 and its two-hundred day simple moving average is $21.11. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.92%. AT&T’s dividend payout ratio (DPR) is 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.