Woodline Partners LP Sells 2,022,104 Shares of AT&T Inc. (NYSE:T)

Woodline Partners LP cut its stake in AT&T Inc. (NYSE:T - Free Report) by 66.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,006,405 shares of the technology company's stock after selling 2,022,104 shares during the period. Woodline Partners LP's holdings in AT&T were worth $22,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of T. Consolidated Planning Corp raised its holdings in AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock worth $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Keystone Financial Group grew its position in shares of AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after buying an additional 143,744 shares during the period. World Investment Advisors raised its stake in shares of AT&T by 36.4% during the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after buying an additional 63,359 shares during the last quarter. Fortress Financial Solutions LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $691,000. Finally, DigitalBridge Group Inc. lifted its holdings in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after buying an additional 365,776 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on T. Oppenheimer lifted their target price 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. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Royal Bank of Canada upped their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Sanford C. Bernstein increased their target price on AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their target price on AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One investment 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 stock. According to data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $28.71.

AT&T Stock Down 0.9%

AT&T stock opened at $27.77 on Wednesday. The company has a 50 day moving average of $27.26 and a 200-day moving average of $25.00. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $17.11 and a twelve month high of $29.03. The stock has a market capitalization of $199.82 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio is presently 68.10%.

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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

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.