AT&T Inc. (NYSE:T) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC reduced its stake in AT&T Inc. (NYSE:T) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,296 shares of the technology company’s stock after selling 1,712 shares during the period. Carnegie Capital Asset Management LLC’s holdings in AT&T were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Carmel Capital Partners LLC raised its stake in AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares in the last quarter. Lipe & Dalton purchased a new position in shares of AT&T during the third quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T during the third quarter worth about $30,000. FWL Investment Management LLC purchased a new position in shares of AT&T during the fourth quarter worth about $31,000. Finally, Financial Freedom LLC purchased a new position in shares of AT&T during the fourth quarter worth about $34,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on T. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Friday, January 19th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Finally, Citigroup raised their price objective 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. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.68.

AT&T Price Performance

T stock opened at $16.12 on Thursday. The stock’s 50 day moving average price is $17.02 and its 200 day moving average price is $16.48. The firm has a market cap of $115.30 billion, a P/E ratio of 8.22, a PEG ratio of 2.43 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.87.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.89%. AT&T’s dividend payout ratio (DPR) is presently 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.