Envestnet Asset Management Inc. Has $234.96 Million Position in AT&T Inc. (NYSE:T)

Envestnet Asset Management Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,295,098 shares of the technology company’s stock after selling 367,268 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of AT&T worth $234,959,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in AT&T in the fourth quarter worth $1,118,288,000. Kodai Capital Management LP acquired a new stake in AT&T in the fourth quarter worth $152,109,000. Bank of New York Mellon Corp raised its holdings in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Point72 Asset Management L.P. raised its holdings in AT&T by 120.8% in the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after purchasing an additional 4,970,954 shares during the period. Finally, Thornburg Investment Management Inc. raised its holdings in AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on T shares. JPMorgan Chase & Co. increased their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Finally, UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Stock Up 0.2 %

AT&T stock opened at $21.64 on Monday. The company has a market cap of $155.16 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $21.86. The company has a fifty day simple moving average of $19.59 and a 200 day simple moving average of $18.19. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 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.