Calton & Associates Inc. Cuts Holdings in AT&T Inc. (NYSE:T)

Calton & Associates Inc. lowered its stake in AT&T Inc. (NYSE:T) by 40.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,341 shares of the technology company’s stock after selling 22,840 shares during the period. Calton & Associates Inc.’s holdings in AT&T were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in AT&T during the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE raised its position 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 worth $29,000 after acquiring an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new stake in AT&T during the fourth quarter worth approximately $34,000. Reston Wealth Management LLC acquired a new position in AT&T in the third quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in AT&T in the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on T shares. Citigroup boosted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Wells Fargo & Company reduced their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.11.

AT&T Stock Down 0.8 %

T stock opened at $24.04 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.67. The company’s 50 day simple moving average is $22.89 and its 200-day simple moving average is $21.57. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The firm has a market capitalization of $172.46 billion, a PE ratio of 16.13, a P/E/G ratio of 2.81 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities analysts expect that AT&T Inc. will post 2.12 earnings per share for the current fiscal 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 issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.62%. AT&T’s dividend payout ratio (DPR) is 74.50%.

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.