Carret Asset Management LLC Sells 17,657 Shares of AT&T Inc. (NYSE:T)

Carret Asset Management LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,139 shares of the technology company’s stock after selling 17,657 shares during the period. Carret Asset Management LLC’s holdings in AT&T were worth $1,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ameriprise Financial Inc. increased its stake in AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after purchasing an additional 34,189,954 shares in the last quarter. FMR LLC increased its stake in 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 in the last quarter. California Public Employees Retirement System increased its stake in AT&T by 38.0% in the third quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company’s stock valued at $519,070,000 after purchasing an additional 9,518,478 shares in the last quarter. Barclays PLC boosted its holdings in shares of AT&T by 30.6% in the third quarter. Barclays PLC now owns 26,227,124 shares of the technology company’s stock valued at $393,931,000 after buying an additional 6,137,909 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of AT&T by 43.0% in the third quarter. AQR Capital Management LLC now owns 14,739,648 shares of the technology company’s stock valued at $221,242,000 after buying an additional 4,432,136 shares during the period. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

T has been the subject of several research analyst reports. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. 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. Finally, Tigress Financial increased their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

AT&T Stock Performance

Shares of T traded up $0.31 during trading hours on Wednesday, hitting $16.81. The company had a trading volume of 74,184,828 shares, compared to its average volume of 39,342,547. The firm has a market cap of $120.24 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 2.46 and a beta of 0.57. The business has a fifty day moving average of $16.98 and a 200-day moving average of $16.54. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is 56.63%.

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.