AT&T Inc. (NYSE:T) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its stake in AT&T Inc. (NYSE:T) by 39.6% in the 4th quarter, Holdings Channel reports. The firm owned 5,703,191 shares of the technology company’s stock after selling 3,746,495 shares during the period. Nordea Investment Management AB’s holdings in AT&T were worth $129,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in T. Geode Capital Management LLC boosted its stake in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. FMR LLC lifted its holdings in 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 in the last quarter. Legal & General Group Plc boosted its position in AT&T by 2.7% in 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 during the period. Ameriprise Financial Inc. grew its stake in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after acquiring an additional 1,007,228 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of AT&T by 2.5% during the second 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 during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $22.59 on Tuesday. The business has a 50 day simple moving average of $22.83 and a 200-day simple moving average of $21.14. The company has a market capitalization of $162.09 billion, a P/E ratio of 18.37, a PEG ratio of 3.60 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 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, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for 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%. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.91%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on T shares. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Tigress Financial boosted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group boosted their price target 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, Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $22.00 to $26.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $25.76.

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.