Forum Financial Management LP trimmed its holdings in shares of AT&T Inc. (NYSE:T – Free Report) by 53.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,175 shares of the technology company’s stock after selling 75,771 shares during the period. Forum Financial Management LP’s holdings in AT&T were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in T. Lipe & Dalton purchased a new position in AT&T in the third quarter valued at about $30,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T in the 3rd quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares in the last quarter. Financial Gravity Asset Management Inc. lifted its position in AT&T by 3,202.4% during the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after acquiring an additional 2,626 shares during the last quarter. Finally, Morton Brown Family Wealth LLC boosted its stake in AT&T by 588.2% in the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock valued at $44,000 after acquiring an additional 2,241 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.
AT&T Stock Performance
T traded down $0.01 during midday trading on Friday, hitting $17.17. 19,229,583 shares of the company were exchanged, compared to its average volume of 38,639,556. The company’s 50 day simple moving average is $16.99 and its 200 day simple moving average is $16.72. The firm has a market capitalization of $123.11 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 3.38 and a beta of 0.57. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.
AT&T (NYSE:T – Get Free Report) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period last year, the company earned $0.60 earnings per share. AT&T’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that AT&T Inc. will post 2.24 earnings per share for the current year.
AT&T Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.46%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Citigroup increased their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Monday, April 29th. Finally, Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $20.81.
AT&T Profile
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.