645,592 Shares in AT&T Inc. (NYSE:T) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 645,592 shares of the technology company’s stock, valued at approximately $14,700,000. AT&T comprises about 0.7% of International Assets Investment Management LLC’s portfolio, making the stock its 17th biggest holding.

A number of other large investors have also recently bought and sold shares of T. Mercer Global Advisors Inc. ADV raised its position 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 worth $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC increased its stake in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Thornburg Investment Management Inc. raised its holdings in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of AT&T in the second quarter valued at $78,570,000. Finally, Geode Capital Management LLC grew its holdings 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 valued at $3,532,684,000 after buying an additional 3,630,972 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T stock traded down $0.17 on Wednesday, hitting $22.03. 6,136,433 shares of the stock were exchanged, compared to its average volume of 26,016,168. The firm’s 50 day moving average is $22.83 and its two-hundred day moving average is $21.17. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The firm has a market capitalization of $158.07 billion, a PE ratio of 17.91, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. 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 5.04%. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on T shares. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Sanford C. Bernstein assumed coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Barclays increased their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer started coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T 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.