DoubleLine ETF Adviser LP Trims Stock Position in AT&T Inc. (NYSE:T)

DoubleLine ETF Adviser LP trimmed its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,000 shares of the technology company's stock after selling 44,979 shares during the quarter. AT&T accounts for about 1.1% of DoubleLine ETF Adviser LP's portfolio, making the stock its 25th largest position. DoubleLine ETF Adviser LP's holdings in AT&T were worth $4,076,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bwcp LP bought a new stake in AT&T in the fourth quarter valued at approximately $11,600,000. South Plains Financial Inc. acquired a new stake in shares of AT&T during the fourth quarter worth $160,000. Parvin Asset Management LLC bought a new position in AT&T during the fourth quarter worth $106,000. Headland Capital LLC acquired a new position in AT&T in the fourth quarter valued at $216,000. Finally, Rehmann Capital Advisory Group boosted its position in AT&T by 7.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 48,726 shares of the technology company's stock valued at $1,110,000 after acquiring an additional 3,377 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on T shares. JPMorgan Chase & Co. boosted their price objective on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Tigress Financial boosted their price target on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Oppenheimer raised their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. 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. Finally, Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. One 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, AT&T has a consensus rating of "Moderate Buy" and an average target price of $28.71.

AT&T Stock Performance

Shares of NYSE:T traded down $0.01 during mid-day trading on Friday, reaching $27.63. The company had a trading volume of 22,922,269 shares, compared to its average volume of 36,414,413. AT&T Inc. has a one year low of $16.91 and a one year high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company's 50-day moving average price is $27.06 and its 200-day moving average price is $24.54. The firm has a market cap of $198.81 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 3.00 and a beta of 0.42.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.02%. AT&T's dividend payout ratio is currently 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.