GenWealth Group Inc. Sells 11,656 Shares of AT&T Inc. (NYSE:T)

GenWealth Group Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 45.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,898 shares of the technology company’s stock after selling 11,656 shares during the quarter. GenWealth Group Inc.’s holdings in AT&T were worth $316,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in T. AQR Capital Management LLC boosted its stake in shares of AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after acquiring an additional 6,602,586 shares during the last quarter. Geode Capital Management LLC raised its holdings in AT&T by 2.3% in the 3rd 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 during the period. Canada Pension Plan Investment Board lifted its position in AT&T by 110.3% during the second quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock valued at $117,623,000 after purchasing an additional 3,228,888 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in AT&T by 1,901.0% during the second quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock valued at $60,518,000 after purchasing an additional 3,008,549 shares during the period. Finally, Franklin Resources Inc. increased its position in AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

T stock opened at $22.30 on Friday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The firm has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The company has a fifty day simple moving average of $22.79 and a two-hundred day simple moving average of $21.31. 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 announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on T. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein started coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

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.