Fortitude Family Office LLC Trims Holdings in AT&T Inc. (NYSE:T)

Fortitude Family Office LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 58,016 shares of the technology company’s stock after selling 1,640 shares during the quarter. Fortitude Family Office LLC’s holdings in AT&T were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in T. Strategic Financial Concepts LLC grew its position in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in AT&T during the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of AT&T in the second quarter worth $30,000. Finally, Reston Wealth Management LLC bought a new position in shares of AT&T during the third quarter worth $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $22.00 to $26.00 in a report on Monday. JPMorgan Chase & Co. lifted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company reduced their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.76.

AT&T Stock Performance

AT&T stock opened at $22.20 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market capitalization of $159.29 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The company’s 50-day moving average is $22.82 and its 200 day moving average is $21.18.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.