AT&T Inc. (NYSE:T) Stock Position Trimmed by PDT Partners LLC

PDT Partners LLC cut its position in AT&T Inc. (NYSE:T - Free Report) by 32.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 141,803 shares of the technology company's stock after selling 67,097 shares during the quarter. PDT Partners LLC's holdings in AT&T were worth $3,229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $14,700,000. Franklin Resources Inc. grew its stake in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp increased its position in shares of AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock worth $7,288,000 after acquiring an additional 21,927 shares in the last quarter. Keystone Financial Group increased its position in shares of AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after acquiring an additional 143,744 shares in the last quarter. Finally, World Investment Advisors increased its position in shares of AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after acquiring an additional 63,359 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on T. Argus raised 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. Tigress Financial raised their price target on shares of AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Royal Bank of Canada raised their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Oppenheimer raised their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Finally, Morgan Stanley restated an "overweight" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.62.

AT&T Trading Up 1.6 %

Shares of T stock opened at $27.25 on Tuesday. AT&T Inc. has a 52-week low of $16.73 and a 52-week high of $29.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market cap of $195.61 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 3.00 and a beta of 0.42. The firm has a fifty day moving average of $26.98 and a 200-day moving average of $24.39.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm's revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.