Revolve Wealth Partners LLC Cuts Stock Position in AT&T Inc. (NYSE:T)

Revolve Wealth Partners LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 8.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 14,116 shares of the technology company’s stock after selling 1,357 shares during the period. Revolve Wealth Partners LLC’s holdings in AT&T were worth $321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the last quarter. FMR LLC grew its holdings in shares of AT&T by 1.9% during the third 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 in the last quarter. Swiss National Bank raised its position in shares of AT&T by 0.5% in the third 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of AT&T by 7.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after buying an additional 1,206,330 shares in the last quarter. Finally, National Pension Service boosted its position in AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after acquiring an additional 2,152,016 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 6.2 %

Shares of T stock opened at $24.12 on Tuesday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.37. The company has a 50 day moving average price of $22.80 and a 200 day moving average price of $21.48. The stock has a market capitalization of $173.05 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Equities research analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Evercore ISI lifted their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 16th. Citigroup raised their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Sanford C. Bernstein boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.89.

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.