Alterna Wealth Management Inc. Cuts Stock Position in AT&T Inc. (NYSE:T)

Alterna Wealth Management Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 11.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,263 shares of the technology company’s stock after selling 3,699 shares during the period. Alterna Wealth Management Inc.’s holdings in AT&T were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in T. Ameriprise Financial Inc. increased its holdings in AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after buying an additional 34,189,954 shares during the last quarter. FMR LLC increased its holdings in shares of AT&T by 130.5% in the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after acquiring an additional 32,558,342 shares during the last quarter. California Public Employees Retirement System raised its position in shares of AT&T by 38.0% during the 3rd quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company’s stock valued at $519,070,000 after acquiring an additional 9,518,478 shares in the last quarter. Barclays PLC lifted its stake in AT&T by 30.6% during the third quarter. Barclays PLC now owns 26,227,124 shares of the technology company’s stock worth $393,931,000 after purchasing an additional 6,137,909 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in AT&T by 43.0% in the third quarter. AQR Capital Management LLC now owns 14,739,648 shares of the technology company’s stock worth $221,242,000 after purchasing an additional 4,432,136 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on T. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Citigroup boosted their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Up 0.2 %

Shares of NYSE T traded up $0.03 during trading hours on Friday, hitting $16.85. The company had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The stock has a market capitalization of $120.52 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The firm’s 50 day moving average is $16.97 and its 200-day moving average is $16.64. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. AT&T’s revenue was down .4% compared to the same quarter last year. On average, analysts expect that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T Company Profile

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.