AT&T Inc. (NYSE:T) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC cut its stake in AT&T Inc. (NYSE:T) by 32.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,587 shares of the technology company’s stock after selling 772 shares during the quarter. Eagle Bay Advisors LLC’s holdings in AT&T were worth $36,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of T. Geode Capital Management LLC boosted its position in AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. FMR LLC raised its stake in shares of AT&T by 1.9% during the 3rd 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 during the period. Legal & General Group Plc lifted its position in shares of AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after buying an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. grew its stake in AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after acquiring an additional 675,082 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $21.56 on Tuesday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The stock’s fifty day moving average is $22.81 and its two-hundred day moving average is $21.26. The company has a market capitalization of $154.70 billion, a P/E ratio of 17.53, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Equities analysts expect that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.15%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analyst Weigh In

T has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup increased their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Evercore ISI raised their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein assumed coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.76.

About AT&T

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.