Leo Wealth LLC Trims Stake in AT&T Inc. (NYSE:T)

Leo Wealth LLC cut its position in shares of AT&T Inc. (NYSE:T) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,196 shares of the technology company’s stock after selling 31,391 shares during the period. Leo Wealth LLC’s holdings in AT&T were worth $3,238,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of AT&T by 2.3% during the third 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 last quarter. FMR LLC increased its stake in AT&T by 1.9% in the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after buying an additional 1,149,688 shares during the period. Swiss National Bank lifted its holdings in AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in AT&T by 7.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock valued at $378,807,000 after buying an additional 1,206,330 shares during the period. Finally, National Pension Service boosted its position in AT&T by 15.8% in the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after buying an additional 2,152,016 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 0.1 %

Shares of T stock opened at $24.46 on Friday. The stock’s fifty day moving average price is $22.99 and its 200 day moving average price is $21.75. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.98. The company has a market cap of $175.47 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts expect that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.54%. AT&T’s dividend payout ratio is currently 74.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, January 16th. UBS Group lifted their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Oppenheimer initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.21.

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.