Brandywine Global Investment Management LLC Sells 861,033 Shares of AT&T Inc. (NYSE:T)

Brandywine Global Investment Management LLC lessened its holdings in AT&T Inc. (NYSE:T) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,388,472 shares of the technology company’s stock after selling 861,033 shares during the quarter. AT&T makes up approximately 1.7% of Brandywine Global Investment Management LLC’s holdings, making the stock its 6th biggest holding. Brandywine Global Investment Management LLC owned about 0.14% of AT&T worth $236,546,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of T. Physician Wealth Advisors Inc. bought a new position in shares of AT&T in the 4th quarter worth $161,000. CIBC Private Wealth Group LLC lifted its stake in AT&T by 14.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 274,643 shares of the technology company’s stock valued at $6,092,000 after buying an additional 34,623 shares during the period. Joseph Group Capital Management boosted its holdings in AT&T by 10.8% during the fourth quarter. Joseph Group Capital Management now owns 207,165 shares of the technology company’s stock worth $4,717,000 after buying an additional 20,189 shares during the last quarter. Charter Research & Investment Group Inc. grew its position in shares of AT&T by 4.9% during the 4th quarter. Charter Research & Investment Group Inc. now owns 43,234 shares of the technology company’s stock worth $984,000 after buying an additional 2,024 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of AT&T by 66.2% in the 4th quarter. Schroder Investment Management Group now owns 5,285,236 shares of the technology company’s stock valued at $120,345,000 after acquiring an additional 2,104,603 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 16th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. Sanford C. Bernstein lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Scotiabank increased their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $28.00 in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $26.79.

AT&T Stock Down 0.0 %

NYSE T opened at $28.20 on Friday. 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 has a market cap of $202.40 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.00 and a beta of 0.56. The company has a 50 day moving average of $25.70 and a 200-day moving average of $23.53. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $28.51.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.94%. AT&T’s payout ratio is 74.50%.

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.