AT&T Inc. (NYSE:T) Shares Sold by Kennedy Investment Group

Kennedy Investment Group trimmed its stake in AT&T Inc. (NYSE:T) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,634 shares of the technology company’s stock after selling 1,443 shares during the quarter. Kennedy Investment Group’s holdings in AT&T were worth $424,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AT&T during the second quarter worth $44,000. Scientech Research LLC purchased a new position in shares of AT&T in the second quarter worth approximately $219,000. Driehaus Capital Management LLC purchased a new position in shares of AT&T in the second quarter worth approximately $237,000. NewEdge Advisors LLC lifted its stake in AT&T by 7.2% in the second quarter. NewEdge Advisors LLC now owns 473,303 shares of the technology company’s stock valued at $9,045,000 after acquiring an additional 31,661 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in AT&T by 2.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 700,577 shares of the technology company’s stock worth $13,388,000 after acquiring an additional 18,869 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.2 %

Shares of T stock opened at $24.43 on Wednesday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.58. The company has a 50-day simple moving average of $22.83 and a two-hundred day simple moving average of $21.51. The company has a market capitalization of $175.26 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada boosted their price target on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Sanford C. Bernstein raised their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays boosted their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average 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.