Verdence Capital Advisors LLC Has $1.64 Million Holdings in AT&T Inc. $T

Verdence Capital Advisors LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 29.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,921 shares of the technology company’s stock after selling 23,941 shares during the period. Verdence Capital Advisors LLC’s holdings in AT&T were worth $1,636,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in AT&T in the 2nd quarter valued at $2,228,655,000. Vanguard Group Inc. boosted its position in shares of AT&T by 1.6% in the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after acquiring an additional 10,310,560 shares during the period. Marshall Wace LLP acquired a new position in shares of AT&T in the second quarter valued at about $235,422,000. State Street Corp grew its stake in shares of AT&T by 2.4% in the second quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock valued at $9,291,781,000 after acquiring an additional 7,404,376 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in AT&T by 59.6% during the second quarter. Acadian Asset Management LLC now owns 14,493,357 shares of the technology company’s stock worth $419,403,000 after acquiring an additional 5,410,596 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE:T opened at $23.45 on Wednesday. AT&T Inc. has a 1 year low of $22.02 and a 1 year high of $29.79. The stock has a market capitalization of $166.24 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 1.28 and a beta of 0.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The company’s 50 day simple moving average is $24.74 and its 200 day simple moving average is $26.52.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $30.71 billion during 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 company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.7%. AT&T’s payout ratio is 36.04%.

Analyst Ratings Changes

A number of analysts have issued reports on T shares. Arete Research set a $20.00 price objective on shares of AT&T in a report on Tuesday, January 6th. Williams Trading set a $33.00 price target on shares of AT&T in a research report on Thursday, October 23rd. The Goldman Sachs Group reduced their price target on AT&T from $33.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Wells Fargo & Company lowered their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, UBS Group reiterated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.36.

AT&T Company Profile

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.