AT&T Inc. (NYSE:T) Position Lessened by Jag Capital Management LLC

Jag Capital Management LLC decreased its stake in AT&T Inc. (NYSE:T) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,830 shares of the technology company’s stock after selling 777 shares during the period. Jag Capital Management LLC’s holdings in AT&T were worth $338,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in T. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. Geode Capital Management LLC raised its stake in AT&T by 2.3% during the 3rd 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. Franklin Resources Inc. raised its stake in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares in the last quarter. National Pension Service raised its stake in AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after acquiring an additional 2,152,016 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in AT&T by 112.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after acquiring an additional 1,546,679 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $27.69 on Tuesday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.86. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $198.76 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 3.00 and a beta of 0.59. The stock’s fifty day simple moving average is $24.01 and its 200-day simple moving average is $22.64.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side 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 declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.01%. AT&T’s dividend payout ratio is 74.50%.

Analyst Ratings Changes

Several brokerages have weighed in on T. Tigress Financial lifted their target price on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup lifted their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Sanford C. Bernstein lifted their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.45.

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.