Ingalls & Snyder LLC trimmed its position in AT&T Inc. (NYSE:T) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 318,439 shares of the technology company’s stock after selling 3,485 shares during the quarter. Ingalls & Snyder LLC’s holdings in AT&T were worth $12,445,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of T. JJJ Advisors Inc. bought a new position in AT&T in the 3rd quarter valued at about $27,000. Bourgeon Capital Management LLC bought a new position in AT&T in the 3rd quarter valued at about $45,000. Fulcrum Equity Management bought a new position in AT&T in the 3rd quarter valued at about $51,000. Corbenic Partners LLC bought a new position in AT&T in the 4th quarter valued at about $54,000. Finally, Quantum Capital Management bought a new position in AT&T in the 3rd quarter valued at about $57,000. 53.60% of the stock is currently owned by institutional investors.
Shares of T opened at $37.87 on Thursday. AT&T Inc. has a 12 month low of $28.92 and a 12 month high of $39.70. The firm’s 50 day moving average is $38.53 and its 200-day moving average is $36.76. The stock has a market capitalization of $276.75 billion, a PE ratio of 10.76, a P/E/G ratio of 2.40 and a beta of 0.62. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.79.
AT&T (NYSE:T) last announced its earnings results on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The company had revenue of $44.59 billion for the quarter, compared to analysts’ expectations of $45.45 billion. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 3.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from AT&T’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 5.49%. AT&T’s dividend payout ratio (DPR) is currently 59.09%.
Several research analysts have weighed in on T shares. Raymond James reissued a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of AT&T in a report on Tuesday, October 29th. Standpoint Research cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, November 1st. SunTrust Banks increased their price target on shares of AT&T to $36.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a report on Thursday, November 14th. Finally, ValuEngine raised shares of AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $39.22.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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