AT&T Inc. (NYSE:T) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. cut its stake in AT&T Inc. (NYSE:T) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 214,311 shares of the technology company’s stock after selling 12,047 shares during the period. Desjardins Global Asset Management Inc.’s holdings in AT&T were worth $3,598,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of T. Moneta Group Investment Advisors LLC grew its stake in AT&T by 85,003.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after buying an additional 76,746,649 shares during the period. Norges Bank purchased a new stake in AT&T during the fourth quarter worth approximately $1,229,499,000. Ameriprise Financial Inc. grew its stake in AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after buying an additional 34,189,954 shares during the period. FMR LLC boosted its stake in shares of AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after purchasing an additional 32,558,342 shares during the period. Finally, Morgan Stanley boosted its stake in shares of AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after purchasing an additional 29,769,976 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on T shares. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Barclays increased their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Citigroup increased their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.68.

AT&T Stock Down 1.0 %

Shares of NYSE T traded down $0.16 during mid-day trading on Tuesday, reaching $16.08. The company had a trading volume of 31,493,874 shares, compared to its average volume of 38,393,629. The stock has a fifty day moving average of $17.07 and a two-hundred day moving average of $16.48. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The company has a market capitalization of $115.02 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 2.46 and a beta of 0.57. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $19.92.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. AT&T’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. As a group, equities research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.90%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

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.