AT&T Inc. (NYSE:T) Stock Position Lowered by Smith Salley Wealth Management

Smith Salley Wealth Management lowered its position in shares of AT&T Inc. (NYSE:T) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,105 shares of the technology company’s stock after selling 792 shares during the quarter. Smith Salley Wealth Management’s holdings in AT&T were worth $2,507,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of T. Blair William & Co. IL increased its holdings in shares of AT&T by 4.4% in the second quarter. Blair William & Co. IL now owns 406,190 shares of the technology company’s stock valued at $7,762,000 after buying an additional 17,001 shares in the last quarter. Ieq Capital LLC raised its position in shares of AT&T by 30.9% during the second quarter. Ieq Capital LLC now owns 317,047 shares of the technology company’s stock worth $6,059,000 after purchasing an additional 74,764 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of AT&T by 110.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock valued at $117,623,000 after purchasing an additional 3,228,888 shares during the period. Bridges Investment Management Inc. increased its stake in AT&T by 1.5% in the 2nd quarter. Bridges Investment Management Inc. now owns 41,764 shares of the technology company’s stock worth $798,000 after purchasing an additional 621 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in AT&T by 7.6% during the 2nd quarter. Sei Investments Co. now owns 2,876,014 shares of the technology company’s stock worth $54,961,000 after buying an additional 202,159 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on T. Sanford C. Bernstein assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Trading Up 1.2 %

Shares of T stock opened at $22.30 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $22.79 and its two-hundred day moving average is $21.31. The company has a market cap of $159.97 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. Equities analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

AT&T 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.