44 Wealth Management LLC Sells 3,135 Shares of AT&T Inc. (NYSE:T)

44 Wealth Management LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,276 shares of the technology company’s stock after selling 3,135 shares during the period. 44 Wealth Management LLC’s holdings in AT&T were worth $598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of T. International Assets Investment Management LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $14,700,000. Swiss National Bank boosted its stake in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. boosted its stake in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the period. Consolidated Planning Corp boosted its stake in shares of AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares during the period. Finally, Caprock Group LLC boosted its stake in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on T. JPMorgan Chase & Co. increased their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup increased their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein increased their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, January 16th. Finally, Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Stock Performance

Shares of AT&T stock opened at $26.64 on Friday. 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 market capitalization of $191.19 billion, a P/E ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.59. The business has a fifty day simple moving average of $23.50 and a two-hundred day simple moving average of $22.28. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $26.72.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Friday, January 10th. 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.