AT&T Inc. $T Stock Position Lessened by AQR Capital Management LLC

AQR Capital Management LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 18.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 15,328,747 shares of the technology company’s stock after selling 3,365,961 shares during the period. AQR Capital Management LLC’s holdings in AT&T were worth $438,555,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T in the 2nd quarter worth about $5,266,758,000. Norges Bank acquired a new position in shares of AT&T in the 2nd quarter valued at about $2,228,655,000. Vanguard Group Inc. increased its stake in AT&T by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after buying an additional 10,310,560 shares during the period. Wellington Management Group LLP lifted its position in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after buying an additional 8,841,126 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of AT&T by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,435,357 shares of the technology company’s stock valued at $973,833,000 after buying an additional 8,355,686 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the topic of a number of research reports. Sanford C. Bernstein upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. Scotiabank set a $30.25 price target on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Wells Fargo & Company lowered their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.55.

AT&T Trading Up 1.1%

Shares of T stock opened at $24.57 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $25.41 and its two-hundred day moving average is $27.26. The company has a market cap of $174.20 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 1.42 and a beta of 0.38. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

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.