First City Capital Management Inc. Decreases Holdings in AT&T Inc. (NYSE:T)

First City Capital Management Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 1.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 37,030 shares of the technology company’s stock after selling 685 shares during the period. First City Capital Management Inc.’s holdings in AT&T were worth $843,000 at the end of the most recent quarter.

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

AT&T Stock Down 0.3 %

Shares of T stock traded down $0.06 during trading on Friday, reaching $22.77. The company’s stock had a trading volume of 15,314,482 shares, compared to its average volume of 20,937,984. The company has a market capitalization of $163.38 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 3.60 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 debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock’s 50-day moving average price is $22.80 and its 200 day moving average price is $21.03.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the business earned $0.64 EPS. AT&T’s revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.87%. AT&T’s dividend payout ratio is presently 90.24%.

Analysts Set New Price Targets

A number of brokerages recently commented on T. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. UBS Group raised 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. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $28.00 in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.53.

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.