Richelieu Gestion SA Lowers Position in AT&T Inc. (NYSE:T)

Richelieu Gestion SA cut its holdings in shares of AT&T Inc. (NYSE:T) by 16.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,946 shares of the technology company’s stock after selling 26,633 shares during the quarter. AT&T makes up about 2.4% of Richelieu Gestion SA’s investment portfolio, making the stock its 17th biggest position. Richelieu Gestion SA’s holdings in AT&T were worth $2,322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of AT&T in the fourth quarter worth about $1,118,288,000. Ameriprise Financial Inc. grew its position in AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after acquiring an additional 34,189,954 shares in the last quarter. Thornburg Investment Management Inc. purchased a new position in AT&T in the fourth quarter worth about $316,472,000. Kodai Capital Management LP purchased a new position in AT&T in the fourth quarter worth about $152,109,000. Finally, Point72 Asset Management L.P. grew its position in AT&T by 120.8% in the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after acquiring an additional 4,970,954 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on T. Scotiabank boosted their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.54.

AT&T Stock Up 0.4 %

T stock traded up $0.07 during mid-day trading on Wednesday, hitting $18.76. 15,918,067 shares of the company were exchanged, compared to its average volume of 36,706,707. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.77. The firm has a fifty day simple moving average of $17.42 and a 200 day simple moving average of $17.13. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $134.51 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 4.25 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, research analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.92%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

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.