Corrado Advisors LLC Has $2.18 Million Stake in AT&T Inc. (NYSE:T)

Corrado Advisors LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,642 shares of the technology company’s stock after selling 11,777 shares during the period. AT&T accounts for about 1.4% of Corrado Advisors LLC’s portfolio, making the stock its 19th biggest holding. Corrado Advisors LLC’s holdings in AT&T were worth $2,178,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in shares of AT&T during the fourth quarter worth approximately $14,700,000. Swiss National Bank increased 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 worth $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. increased 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 worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. Consolidated Planning Corp increased 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 worth $7,288,000 after purchasing an additional 21,927 shares during the period. Finally, Caprock Group LLC increased 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 worth $4,312,000 after purchasing an additional 30,281 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the topic of a number of recent research reports. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup raised their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein raised their price objective on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Tigress Financial raised their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $26.33.

AT&T Trading Down 0.2 %

NYSE T opened at $26.60 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.16. The company has a market cap of $190.90 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The business’s fifty day moving average is $23.73 and its 200 day moving average is $22.46.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 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.