AT&T Inc. (NYSE:T) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,375 shares of the technology company’s stock after selling 27,030 shares during the period. Argyle Capital Management Inc.’s holdings in AT&T were worth $2,674,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in T. Newport Trust Company LLC increased its position in shares of AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after acquiring an additional 673,043 shares in the last quarter. Northern Trust Corp grew its holdings in shares of AT&T by 2.5% during the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after buying an additional 1,828,237 shares in the last quarter. Bank of New York Mellon Corp raised its position in AT&T by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock valued at $905,258,000 after buying an additional 334,222 shares during the period. FMR LLC lifted its stake in AT&T by 130.5% in the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after acquiring an additional 32,558,342 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after acquiring an additional 34,189,954 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.0 %

Shares of AT&T stock traded up $0.17 during trading on Friday, hitting $16.75. 37,852,681 shares of the company were exchanged, compared to its average volume of 39,190,348. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.67. The firm has a market capitalization of $119.81 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 2.53 and a beta of 0.57. The firm’s fifty day moving average price is $16.96 and its 200 day moving average price is $16.58. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. As a group, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.63%. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on T shares. Barclays increased their price objective on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Scotiabank upped their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. Finally, Tigress Financial upped their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.