Sound View Wealth Advisors Group LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Sound View Wealth Advisors Group LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 9.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,199 shares of the technology company’s stock after selling 2,746 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in AT&T were worth $597,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in AT&T during the third quarter valued at approximately $25,000. Marshall Investment Management LLC bought a new position in shares of AT&T during the 4th quarter valued at $28,000. Ritter Daniher Financial Advisory LLC DE raised its position in 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 purchasing an additional 841 shares during the period. YANKCOM Partnership purchased a new position in AT&T in the 4th quarter worth $30,000. Finally, Tradewinds Capital Management LLC lifted its stake in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of T stock opened at $27.15 on Monday. The business’s fifty day moving average is $24.30 and its 200 day moving average is $22.84. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market cap of $194.85 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 3.00 and a beta of 0.56. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. AT&T’s payout ratio is 74.50%.

Analysts Set New Price Targets

T has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada boosted their price objective on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Citigroup raised their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Sanford C. Bernstein upped their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.74.

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.