AT&T Inc. (NYSE:T) Stake Lessened by Regent Peak Wealth Advisors LLC

Regent Peak Wealth Advisors LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 23.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,992 shares of the technology company’s stock after selling 4,046 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in AT&T were worth $296,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in T. Diversified Trust Co lifted its position in shares of AT&T by 0.7% during the fourth quarter. Diversified Trust Co now owns 170,419 shares of the technology company’s stock worth $3,880,000 after purchasing an additional 1,192 shares during the last quarter. Bangor Savings Bank raised its stake in AT&T by 1.8% during the fourth quarter. Bangor Savings Bank now owns 75,123 shares of the technology company’s stock valued at $1,711,000 after buying an additional 1,298 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its holdings in AT&T by 3.8% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,359 shares of the technology company’s stock worth $1,352,000 after buying an additional 2,197 shares during the last quarter. Advance Capital Management Inc. lifted its holdings in AT&T by 0.9% during the 4th quarter. Advance Capital Management Inc. now owns 90,290 shares of the technology company’s stock worth $2,056,000 after buying an additional 831 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. grew its position in shares of AT&T by 92.6% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 58,775 shares of the technology company’s stock worth $1,338,000 after acquiring an additional 28,262 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T stock traded down $0.14 during midday trading on Tuesday, reaching $22.46. 9,902,800 shares of the company were exchanged, compared to its average volume of 24,283,406. The company’s 50 day moving average price is $22.83 and its two-hundred day moving average price is $21.14. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market cap of $161.16 billion, a P/E ratio of 18.26, a PEG ratio of 3.60 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts expect that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on T shares. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. UBS Group raised their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Oppenheimer began coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.76.

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.