Rodgers & Associates LTD Sells 1,211 Shares of AT&T Inc. (NYSE:T)

Rodgers & Associates LTD decreased its holdings in shares of AT&T Inc. (NYSE:T) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,248 shares of the technology company’s stock after selling 1,211 shares during the period. Rodgers & Associates LTD’s holdings in AT&T were worth $211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in AT&T in the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in AT&T in the fourth quarter worth $34,000. Safe Harbor Fiduciary LLC purchased a new position in AT&T in the 3rd quarter worth about $35,000. Finally, Reston Wealth Management LLC purchased a new position in shares of AT&T during the third quarter worth approximately $35,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.7 %

Shares of T opened at $22.69 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 company has a market capitalization of $162.84 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The stock has a fifty day simple moving average of $22.80 and a two-hundred day simple moving average of $21.40. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue was down .5% on a year-over-year basis. As a group, equities analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.89%. 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

T has been the topic of several research reports. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Citigroup upped their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $22.00 to $26.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, AT&T 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.