Global Trust Asset Management LLC Lowers Position in AT&T Inc. (NYSE:T)

Global Trust Asset Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 21.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,045 shares of the technology company’s stock after selling 855 shares during the period. Global Trust Asset Management LLC’s holdings in AT&T were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in 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 buying an additional 3,630,972 shares in the last quarter. FMR LLC grew its position in shares of AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. Legal & General Group Plc increased its stake in shares of 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 purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, AQR Capital Management LLC boosted its position in AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the subject of several research analyst reports. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Tigress Financial upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Stock Down 0.7 %

Shares of NYSE T opened at $22.34 on Thursday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The company has a market capitalization of $160.30 billion, a P/E ratio of 18.16, a P/E/G ratio of 3.53 and a beta of 0.59. The company has a 50 day simple moving average of $22.80 and a 200-day simple moving average of $21.40. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.97% and a net margin of 7.42%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.97%. AT&T’s payout ratio is currently 90.24%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.