Patriot Financial Group Insurance Agency LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Patriot Financial Group Insurance Agency LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,364 shares of the technology company’s stock after selling 1,002 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in AT&T were worth $896,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of AT&T by 169.2% during 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 purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T during the 4th quarter valued at $34,000. Safe Harbor Fiduciary LLC purchased a new position in AT&T during the 3rd quarter worth $35,000. Finally, Reston Wealth Management LLC acquired a new position in AT&T during the 3rd quarter valued at about $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $24.43 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.58. The stock’s 50-day moving average price is $22.83 and its 200-day moving average price is $21.51. The stock has a market capitalization of $175.26 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. As a group, equities analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. Citigroup upped their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lowered their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.06.

AT&T Company Profile

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.