Larson Financial Group LLC Sells 753 Shares of AT&T Inc. (NYSE:T)

Larson Financial Group LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 2.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,156 shares of the technology company’s stock after selling 753 shares during the quarter. Larson Financial Group LLC’s holdings in AT&T were worth $422,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Carmel Capital Partners LLC boosted its stake in shares of AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton bought a new stake in AT&T during the 3rd quarter valued at about $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T in the 3rd quarter valued at about $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares in the last quarter. Finally, Morton Brown Family Wealth LLC increased its position in shares of AT&T by 588.2% during the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock worth $44,000 after acquiring an additional 2,241 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on T. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Tigress Financial boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, TheStreet raised AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

AT&T Stock Up 1.2 %

T stock opened at $16.51 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16. The stock has a market capitalization of $118.09 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. The firm has a 50 day moving average of $16.98 and a 200 day moving average of $16.54.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. During the same period last year, the firm earned $0.61 earnings per share. AT&T’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.72%. AT&T’s payout ratio is presently 56.63%.

About AT&T

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.