Cercano Management LLC Sells 203,430 Shares of AT&T Inc. (NYSE:T)

Cercano Management LLC trimmed its stake in AT&T Inc. (NYSE:T - Free Report) by 95.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,032 shares of the technology company's stock after selling 203,430 shares during the period. Cercano Management LLC's holdings in AT&T were worth $228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Norges Bank bought a new position in shares of AT&T during the fourth quarter valued at approximately $1,858,418,000. GQG Partners LLC grew its position in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. Northern Trust Corp increased its stake in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. Assetmark Inc. lifted its position in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of AT&T by 18.2% during the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after purchasing an additional 7,347,354 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Down 0.3 %

AT&T stock opened at $27.52 on Tuesday. The business has a fifty day moving average price of $27.08 and a 200-day moving average price of $24.60. AT&T Inc. has a 1-year low of $16.91 and a 1-year high of $29.03. The stock has a market capitalization of $198.02 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.03%. AT&T's payout ratio is 68.10%.

Analysts Set New Price Targets

T has been the topic of several recent analyst reports. Sanford C. Bernstein raised their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Cowen reaffirmed a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Wells Fargo & Company raised their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Citigroup reiterated a "buy" rating on shares of AT&T in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.71.

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.

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