Apollon Wealth Management LLC Sells 27,482 Shares of AT&T Inc. (NYSE:T)

Apollon Wealth Management LLC cut its holdings in AT&T Inc. (NYSE:T) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 214,207 shares of the technology company’s stock after selling 27,482 shares during the period. Apollon Wealth Management LLC’s holdings in AT&T were worth $4,877,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new position in AT&T during the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in 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 valued at $29,000 after purchasing an additional 841 shares during the last quarter. YANKCOM Partnership purchased a new stake in AT&T in the 4th quarter valued at about $30,000. Endeavor Private Wealth Inc. purchased a new stake in AT&T in the 4th quarter valued at about $34,000. Finally, Reston Wealth Management LLC purchased a new stake in AT&T in the 3rd quarter valued at about $35,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on T. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, January 29th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Tigress Financial upped their price target on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

AT&T Trading Up 0.4 %

Shares of AT&T stock opened at $24.56 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a fifty day moving average price of $23.04 and a 200 day moving average price of $21.81. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The stock has a market cap of $176.19 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts predict that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

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

AT&T Company 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.