Prentiss Smith & Co. Inc. Sells 2,298 Shares of AT&T Inc. (NYSE:T)

Prentiss Smith & Co. Inc. decreased its stake in shares of AT&T Inc. (NYSE:T) by 12.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,814 shares of the technology company’s stock after selling 2,298 shares during the quarter. Prentiss Smith & Co. Inc.’s holdings in AT&T were worth $265,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sora Investors LLC acquired a new stake in shares of AT&T during the 3rd quarter valued at about $11,265,000. Robeco Institutional Asset Management B.V. boosted its position in shares of AT&T by 2.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock valued at $259,219,000 after acquiring an additional 383,015 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of AT&T by 3.1% during the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after acquiring an additional 1,178 shares in the last quarter. Retireful LLC acquired a new stake in shares of AT&T during the 4th quarter valued at about $1,163,000. Finally, Terril Brothers Inc. boosted its position in shares of AT&T by 51.6% during the 3rd quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after acquiring an additional 202,637 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Scotiabank boosted their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Citigroup boosted their price target on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Down 1.3 %

Shares of T stock traded down $0.22 during trading hours on Thursday, hitting $16.59. 46,667,665 shares of the company were exchanged, compared to its average volume of 39,434,195. The business has a 50 day moving average of $16.98 and a two-hundred day moving average of $16.54. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16. The company has a market capitalization of $118.63 billion, a PE ratio of 8.44, a PEG ratio of 2.49 and a beta of 0.57.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.69%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is 56.63%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.