Deseret Mutual Benefit Administrators Trims Stock Position in AT&T Inc. (NYSE:T)

Deseret Mutual Benefit Administrators cut its position in AT&T Inc. (NYSE:T) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,550 shares of the technology company’s stock after selling 909 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in AT&T were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. AMF Tjanstepension AB lifted its position in AT&T by 305.1% during the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after purchasing an additional 1,161,152 shares during the last quarter. Grimes & Company Inc. raised its position in shares of AT&T by 7.2% during the 3rd quarter. Grimes & Company Inc. now owns 33,530 shares of the technology company’s stock valued at $738,000 after buying an additional 2,245 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of AT&T by 1.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 310,190 shares of the technology company’s stock worth $6,824,000 after acquiring an additional 3,972 shares during the last quarter. Global Trust Asset Management LLC grew its position in AT&T by 28.1% in the third quarter. Global Trust Asset Management LLC now owns 3,900 shares of the technology company’s stock worth $86,000 after acquiring an additional 855 shares in the last quarter. Finally, apricus wealth LLC increased its stake in AT&T by 4.3% in the third quarter. apricus wealth LLC now owns 78,685 shares of the technology company’s stock valued at $1,731,000 after acquiring an additional 3,265 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 1.9 %

NYSE T opened at $26.64 on Friday. The stock has a market cap of $191.19 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $26.72. The stock has a 50 day simple moving average of $23.50 and a two-hundred day simple moving average of $22.28. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating 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, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. AT&T’s dividend payout ratio is 74.50%.

Analyst Ratings Changes

Several equities research analysts have issued reports on T shares. UBS Group lifted their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. Argus upgraded shares of 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. Royal Bank of Canada boosted their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Oppenheimer assumed 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

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.