Freestate Advisors LLC Sells 1,942 Shares of AT&T Inc. (NYSE:T)

Freestate Advisors LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,601 shares of the technology company’s stock after selling 1,942 shares during the period. AT&T accounts for 0.4% of Freestate Advisors LLC’s portfolio, making the stock its 21st largest holding. Freestate Advisors LLC’s holdings in AT&T were worth $378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in AT&T in the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in AT&T in the 2nd quarter valued at $30,000. Reston Wealth Management LLC bought a new stake in AT&T in the 3rd quarter valued at $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in AT&T in the 3rd quarter valued at $35,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

AT&T stock opened at $21.90 on Thursday. The stock has a market cap of $157.14 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The firm has a 50-day moving average of $22.80 and a two-hundred day moving average of $21.28.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. On average, research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.07%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

T has been the topic of a number of research reports. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Barclays lifted their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Finally, UBS Group lifted their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.83.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.