Cidel Asset Management Inc. Sells 9,565 Shares of AT&T Inc. (NYSE:T)

Cidel Asset Management Inc. cut its position in AT&T Inc. (NYSE:T) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,678 shares of the technology company’s stock after selling 9,565 shares during the quarter. Cidel Asset Management Inc.’s holdings in AT&T were worth $2,816,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of T. Legacy Investment Solutions LLC acquired a new stake in AT&T in the 3rd quarter worth $25,000. YANKCOM Partnership acquired a new position in AT&T in the 4th quarter valued at approximately $30,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of AT&T by 169.2% in 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 during the period. Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T during the 4th quarter worth approximately $34,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $35,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on T shares. JPMorgan Chase & Co. raised their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. Barclays upped their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein raised their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T Trading Up 0.4 %

T opened at $24.56 on Friday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.98. The stock has a market capitalization of $176.19 billion, a PE ratio of 16.48, a PEG ratio of 2.79 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $23.01 and a two-hundred day moving average price of $21.77.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.52%. AT&T’s payout ratio is currently 74.50%.

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.