Charles Schwab Investment Management Inc. Has $1.48 Billion Position in AT&T Inc. (NYSE:T)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in AT&T by 1.3%, holding approximately 52.37 million shares, valued at $1.48 billion.
• AT&T's stock was recently upgraded by Wall Street analysts, with a price target increase from $31 to $33 by JPMorgan Chase & Co., and an average rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.2775, yielding approximately 4.0%, with a payout ratio of 63.07%.

Charles Schwab Investment Management Inc. cut its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,373,911 shares of the technology company's stock after selling 683,765 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.73% of AT&T worth $1,481,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after acquiring an additional 10,188 shares in the last quarter. Yoffe Investment Management LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $213,000. FIL Ltd lifted its position in shares of AT&T by 6.7% in the 4th quarter. FIL Ltd now owns 46,158 shares of the technology company's stock valued at $1,051,000 after acquiring an additional 2,897 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of AT&T by 31.9% in the 4th quarter. Advisory Services Network LLC now owns 400,205 shares of the technology company's stock valued at $9,113,000 after acquiring an additional 96,684 shares in the last quarter. Finally, Faithward Advisors LLC lifted its position in shares of AT&T by 8.5% in the 4th quarter. Faithward Advisors LLC now owns 28,720 shares of the technology company's stock valued at $654,000 after acquiring an additional 2,246 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T traded up $0.02 during midday trading on Friday, reaching $28.08. The stock had a trading volume of 23,594,470 shares, compared to its average volume of 34,716,284. AT&T Inc. has a 1-year low of $18.97 and a 1-year high of $29.19. The firm's fifty day simple moving average is $27.83 and its 200-day simple moving average is $26.97. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $200.78 billion, a P/E ratio of 15.95, a PEG ratio of 3.48 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.0%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is currently 63.07%.

Wall Street Analyst Weigh In

Several brokerages recently commented on T. Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Scotiabank increased their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Evercore ISI increased their target price on shares of 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, Wells Fargo & Company increased their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and an average price target of $29.66.

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.