Focused Wealth Management Inc reduced its stake in AT&T Inc. (NYSE:T) by 66.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,285 shares of the technology company’s stock after selling 27,761 shares during the quarter. Focused Wealth Management Inc’s holdings in AT&T were worth $558,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Callahan Advisors LLC raised its holdings in AT&T by 0.9% during the fourth quarter. Callahan Advisors LLC now owns 430,642 shares of the technology company’s stock valued at $16,829,000 after acquiring an additional 3,977 shares during the period. Asset Planning Services Inc. LA ADV raised its holdings in AT&T by 1.9% during the fourth quarter. Asset Planning Services Inc. LA ADV now owns 134,020 shares of the technology company’s stock valued at $5,238,000 after acquiring an additional 2,450 shares during the period. First Citizens Financial Corp bought a new stake in AT&T during the fourth quarter valued at about $457,000. Rikoon Group LLC raised its holdings in AT&T by 0.6% during the fourth quarter. Rikoon Group LLC now owns 62,146 shares of the technology company’s stock valued at $2,429,000 after acquiring an additional 369 shares during the period. Finally, Sigma Investment Counselors Inc. raised its holdings in AT&T by 1.6% during the fourth quarter. Sigma Investment Counselors Inc. now owns 67,694 shares of the technology company’s stock valued at $2,645,000 after acquiring an additional 1,080 shares during the period. 53.63% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on T shares. Raymond James reissued a “buy” rating and set a $45.00 price target (up from $40.00) on shares of AT&T in a report on Tuesday, October 29th. ValuEngine raised AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, December 16th. Moffett Nathanson lowered AT&T from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a research report on Tuesday, November 19th. Standpoint Research lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, SunTrust Banks raised their price objective on AT&T to $36.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.22.
AT&T (NYSE:T) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The firm had revenue of $44.59 billion during the quarter, compared to analyst estimates of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. On average, equities analysts expect that AT&T Inc. will post 3.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.08 annualized dividend and a yield of 5.40%. This is a positive change from AT&T’s previous quarterly dividend of $0.51. AT&T’s dividend payout ratio (DPR) is currently 59.09%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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