Equity Investment Corp Has $161.97 Million Stock Position in AT&T Inc. (NYSE:T)

Equity Investment Corp reduced its position in AT&T Inc. (NYSE:T - Free Report) by 33.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,727,249 shares of the technology company's stock after selling 2,923,346 shares during the period. AT&T comprises 3.6% of Equity Investment Corp's holdings, making the stock its 3rd largest position. Equity Investment Corp owned about 0.08% of AT&T worth $161,967,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in AT&T in the 4th quarter valued at about $1,858,418,000. GQG Partners LLC raised its holdings 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares during the period. Northern Trust Corp raised its holdings in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares during the period. Finally, Invesco Ltd. raised its holdings in AT&T by 18.2% in the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after acquiring an additional 7,347,354 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 0.0%

T stock traded down $0.01 during midday trading on Friday, hitting $26.99. The stock had a trading volume of 11,702,012 shares, compared to its average volume of 36,313,348. The firm has a market cap of $194.17 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 3.37 and a beta of 0.42. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19. The business has a fifty day moving average price of $27.76 and a two-hundred day moving average price of $26.41.

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 firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. AT&T's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is presently 68.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on T shares. Royal Bank Of Canada raised their target price 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. Tigress Financial raised their target price on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Evercore ISI raised their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Finally, Scotiabank raised their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.17.

AT&T 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.