Intact Investment Management Inc. Cuts Stock Position in AT&T Inc. (NYSE:T)

Intact Investment Management Inc. lowered its holdings in AT&T Inc. (NYSE:T) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 926,900 shares of the technology company’s stock after selling 1,700 shares during the period. Intact Investment Management Inc.’s holdings in AT&T were worth $15,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in AT&T by 13.4% in the fourth quarter. Russell Investments Group Ltd. now owns 7,599,198 shares of the technology company’s stock worth $127,511,000 after purchasing an additional 900,026 shares during the last quarter. Addison Advisors LLC lifted its position in shares of AT&T by 16.0% during the 4th quarter. Addison Advisors LLC now owns 7,195 shares of the technology company’s stock valued at $121,000 after buying an additional 991 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in shares of AT&T during the 4th quarter valued at $4,454,000. Terril Brothers Inc. lifted its position in shares of AT&T by 27.9% during the 4th quarter. Terril Brothers Inc. now owns 761,103 shares of the technology company’s stock valued at $12,771,000 after buying an additional 166,129 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of AT&T by 4,122.8% during the 4th quarter. Headlands Technologies LLC now owns 51,223 shares of the technology company’s stock valued at $860,000 after buying an additional 50,010 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.0 %

T stock traded up $0.17 during trading on Friday, hitting $16.75. 37,852,681 shares of the company traded hands, compared to its average volume of 39,190,348. The firm has a market capitalization of $119.81 billion, a PE ratio of 9.01, a P/E/G ratio of 2.50 and a beta of 0.57. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a 50-day moving average of $16.96 and a 200-day moving average of $16.56. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on T shares. Citigroup boosted their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a research note on Thursday. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Friday, January 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Company 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.