Los Angeles Capital Management LLC Sells 400,861 Shares of AT&T Inc. (NYSE:T)

Los Angeles Capital Management LLC reduced its position in AT&T Inc. (NYSE:T) by 61.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 248,534 shares of the technology company’s stock after selling 400,861 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AT&T were worth $5,659,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the 3rd quarter worth $25,000. Marshall Investment Management LLC acquired a new position in AT&T during the fourth quarter worth about $28,000. Ritter Daniher Financial Advisory LLC DE raised its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. YANKCOM Partnership bought a new position in shares of AT&T in the fourth quarter worth about $30,000. Finally, Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Scotiabank raised their price objective on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 28th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $26.33.

AT&T Trading Down 0.2 %

T opened at $26.60 on Thursday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.16. The company has a fifty day moving average of $23.73 and a 200-day moving average of $22.46. The stock has a market cap of $190.90 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

About AT&T

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.