Mitsubishi UFJ Trust & Banking Corp Sells 383,983 Shares of AT&T Inc. $T

Mitsubishi UFJ Trust & Banking Corp decreased its position in AT&T Inc. (NYSE:T) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,256,348 shares of the technology company’s stock after selling 383,983 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.09% of AT&T worth $176,679,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of AT&T by 26.5% in the fourth 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. Beacon Investment Advisory Services Inc. boosted its holdings in AT&T by 2.0% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 38,512 shares of the technology company’s stock valued at $1,115,000 after purchasing an additional 754 shares during the period. Perigon Wealth Management LLC grew its position in shares of AT&T by 6.0% during the 2nd quarter. Perigon Wealth Management LLC now owns 132,474 shares of the technology company’s stock worth $3,834,000 after purchasing an additional 7,488 shares in the last quarter. Dakota Wealth Management grew its position in shares of AT&T by 132.4% during the 2nd quarter. Dakota Wealth Management now owns 154,562 shares of the technology company’s stock worth $4,473,000 after purchasing an additional 88,042 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC bought a new position in shares of AT&T during the second quarter worth approximately $1,790,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

AT&T stock opened at $23.56 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a 52 week low of $22.54 and a 52 week high of $29.79. The stock has a market capitalization of $166.99 billion, a P/E ratio of 7.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.39. The stock has a fifty day moving average of $24.62 and a 200-day moving average of $26.45.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 annualized dividend and a dividend yield of 4.7%. AT&T’s payout ratio is 36.04%.

Analyst Upgrades and Downgrades

T has been the subject of several recent research reports. TD Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Wells Fargo & Company cut their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Arete Research set a $20.00 target price on AT&T in a report on Tuesday, January 6th. Wolfe Research downgraded AT&T from an “outperform” rating to a “peer perform” rating in a research note on Monday, December 15th. Finally, The Goldman Sachs Group cut their price objective on shares of AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $29.75.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.