Aviance Capital Partners LLC Has $360,000 Stock Position in AT&T Inc. (NYSE:T)

Aviance Capital Partners LLC cut its position in AT&T Inc. (NYSE:T) by 76.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,465 shares of the technology company’s stock after selling 69,759 shares during the period. Aviance Capital Partners LLC’s holdings in AT&T were worth $360,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Newport Trust Company LLC raised its position in AT&T by 0.3% in the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after purchasing an additional 673,043 shares during the last quarter. Northern Trust Corp increased its stake in shares of AT&T by 2.5% in the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after buying an additional 1,828,237 shares in the last quarter. FMR LLC raised its holdings 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 buying an additional 32,558,342 shares during the last quarter. Ameriprise Financial Inc. lifted its position in AT&T by 185.6% during the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in AT&T by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,791,397 shares of the technology company’s stock worth $747,867,000 after acquiring an additional 327,425 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

AT&T stock traded up $0.10 during trading hours on Tuesday, hitting $17.09. The company had a trading volume of 28,082,469 shares, compared to its average volume of 38,812,934. AT&T Inc. has a one year low of $13.43 and a one year high of $18.16. The firm has a market cap of $122.50 billion, a PE ratio of 9.19, a PEG ratio of 3.32 and a beta of 0.57. The firm has a 50-day moving average of $16.98 and a 200 day moving average of $16.69. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. On average, sell-side analysts expect that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.50%. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

T has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Friday, January 19th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.81.

About AT&T

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.