Invenomic Capital Management LP Decreases Stock Position in AT&T Inc. (NYSE:T)

Invenomic Capital Management LP lessened its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,315,793 shares of the technology company's stock after selling 213,327 shares during the quarter. AT&T comprises approximately 1.4% of Invenomic Capital Management LP's portfolio, making the stock its 11th biggest position. Invenomic Capital Management LP's holdings in AT&T were worth $29,961,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of T. 1620 Investment Advisors Inc. lifted its stake in shares of AT&T by 1.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company's stock valued at $596,000 after purchasing an additional 421 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares in the last quarter. BNP Paribas grew its stake in shares of AT&T by 1.0% in the fourth quarter. BNP Paribas now owns 41,716 shares of the technology company's stock worth $942,000 after purchasing an additional 430 shares in the last quarter. Whittier Trust Co. grew its stake in shares of AT&T by 0.7% in the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company's stock worth $1,352,000 after purchasing an additional 433 shares in the last quarter. Finally, Wealthstream Advisors Inc. grew its stake in shares of AT&T by 3.7% in the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company's stock worth $282,000 after purchasing an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 2.8%

Shares of AT&T stock traded up $0.74 on Thursday, hitting $27.18. The company had a trading volume of 5,880,678 shares, compared to its average volume of 36,622,623. The stock has a market capitalization of $195.58 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 1 year low of $17.11 and a 1 year high of $29.03. The stock has a 50 day moving average of $27.15 and a 200-day moving average of $24.83. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's payout ratio is currently 68.10%.

Analysts Set New Price Targets

A number of research firms recently issued reports on T. BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. Scotiabank reiterated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Royal Bank of Canada increased their price target on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Evercore ISI raised their price objective on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Finally, Tigress Financial raised their price objective on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.71.

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.