Arnhold LLC Has $32.96 Million Stock Holdings in AT&T Inc. (NYSE:T)

Arnhold LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,964,124 shares of the technology company’s stock after selling 88,872 shares during the period. AT&T accounts for 3.7% of Arnhold LLC’s investment portfolio, making the stock its 4th largest position. Arnhold LLC’s holdings in AT&T were worth $32,958,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Newport Trust Company LLC raised its position in shares of AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares in the last quarter. Northern Trust Corp raised its holdings in shares of AT&T by 2.5% in the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after acquiring an additional 1,828,237 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AT&T by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock valued at $905,258,000 after acquiring an additional 334,222 shares during the last quarter. FMR LLC grew its holdings in shares of AT&T by 130.5% during the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after purchasing an additional 32,558,342 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of 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 purchasing an additional 34,189,954 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and increased their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. StockNews.com raised AT&T from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Monday. Finally, Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Down 0.7 %

Shares of T stock traded down $0.12 during trading hours on Tuesday, hitting $16.90. 31,792,882 shares of the company’s stock traded hands, compared to its average volume of 39,373,371. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The stock has a market cap of $120.85 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 3.32 and a beta of 0.57. The stock’s fifty day simple moving average is $16.97 and its two-hundred day simple moving average is $16.62. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $0.60 EPS. On average, analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.57%. AT&T’s dividend payout ratio is presently 59.68%.

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.