ICA Group Wealth Management LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

ICA Group Wealth Management LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 4.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 20,283 shares of the technology company’s stock after selling 999 shares during the quarter. ICA Group Wealth Management LLC’s holdings in AT&T were worth $340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp lifted its position in AT&T by 2.5% during 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 purchasing an additional 1,828,237 shares during the last quarter. Norges Bank purchased a new position in AT&T in the fourth quarter worth about $1,118,288,000. FMR LLC increased its stake in 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 acquiring an additional 32,558,342 shares during the last quarter. Ameriprise Financial Inc. increased its stake in 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 acquiring an additional 34,189,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in AT&T by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after purchasing an additional 798,024 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the subject of a number of recent research reports. Scotiabank lifted their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. 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. Finally, StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.32.

AT&T Stock Up 0.2 %

Shares of NYSE:T opened at $17.67 on Tuesday. The business’s 50 day moving average is $17.19 and its 200 day moving average is $17.07. The stock has a market cap of $126.70 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 3.47 and a beta of 0.60. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.45. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

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 analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion for 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 business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. Sell-side analysts predict that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced 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. This represents a $1.11 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T 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.