Sawyer & Company Inc Sells 8,755 Shares of AT&T Inc. (NYSE:T)

Sawyer & Company Inc reduced its position in shares of AT&T Inc. (NYSE:T – Get Rating) by 8.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 96,281 shares of the technology company’s stock after selling 8,755 shares during the period. Sawyer & Company Inc’s holdings in AT&T were worth $1,773,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in T. New Millennium Group LLC acquired a new position in AT&T during the 2nd quarter worth approximately $34,000. Bay Harbor Wealth Management LLC acquired a new position in AT&T during the 3rd quarter worth approximately $36,000. Eisler Capital UK Ltd. purchased a new stake in shares of AT&T in the third quarter worth approximately $36,000. McClarren Financial Advisors Inc. purchased a new stake in shares of AT&T in the third quarter worth approximately $45,000. Finally, Phocas Financial Corp. purchased a new stake in shares of AT&T in the fourth quarter worth approximately $46,000. 51.86% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 1.4 %

Shares of NYSE T opened at $18.13 on Friday. The stock has a fifty day simple moving average of $19.20 and a two-hundred day simple moving average of $18.19. AT&T Inc. has a 1-year low of $14.46 and a 1-year high of $21.53. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.53.

AT&T (NYSE:T – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The business had revenue of $31.30 billion during the quarter, compared to analyst estimates of $31.50 billion. During the same period in the prior year, the company earned $0.78 earnings per share. AT&T’s revenue was down 23.6% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on T shares. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, December 8th. Wells Fargo & Company raised AT&T from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $17.00 to $22.00 in a research note on Tuesday, January 10th. Cowen increased their price objective on AT&T from $24.00 to $25.00 in a research note on Thursday, January 26th. Morgan Stanley downgraded AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective for the company. in a research note on Thursday, December 15th. Finally, Credit Suisse Group increased their price objective on AT&T from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, January 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

About AT&T

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.