Victory Capital Management Inc. Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Victory Capital Management Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,651,365 shares of the technology company’s stock after selling 40,283 shares during the period. Victory Capital Management Inc. owned about 0.05% of AT&T worth $83,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of AT&T during the fourth quarter worth $14,700,000. Swiss National Bank boosted its position in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares during the period. Franklin Resources Inc. boosted its position in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares during the period. Consolidated Planning Corp boosted its holdings in AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares during the period. Finally, Caprock Group LLC boosted its holdings in AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on T shares. The Goldman Sachs Group lifted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a report on Thursday, February 13th. 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 report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.74.

AT&T Stock Up 2.1 %

T opened at $26.74 on Friday. The business’s 50-day simple moving average is $24.22 and its 200-day simple moving average is $22.75. 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 Inc. has a one year low of $15.94 and a one year high of $27.97. The stock has a market capitalization of $191.91 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS 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%. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

AT&T Company 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.