Abound Wealth Management Sells 862 Shares of AT&T Inc. (NYSE:T)

Abound Wealth Management lessened its holdings in shares of AT&T Inc. (NYSE:TFree Report) by 36.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,494 shares of the technology company’s stock after selling 862 shares during the quarter. Abound Wealth Management’s holdings in AT&T were worth $34,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP bought a new stake in shares of AT&T in the second quarter valued at about $23,888,000. International Assets Investment Management LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $14,700,000. Swiss National Bank grew its holdings in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares in the last quarter. Franklin Resources Inc. increased its position in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the period. Finally, Caprock Group LLC raised its stake in shares of AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.7 %

NYSE:T traded down $0.16 during trading hours on Monday, hitting $21.53. 21,267,919 shares of the stock were exchanged, compared to its average volume of 31,898,717. The company’s 50 day moving average is $22.81 and its two-hundred day moving average is $21.24. The company has a market capitalization of $154.48 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

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

AT&T Announces Dividend

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 given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. AT&T’s payout ratio is currently 90.24%.

Analyst Ratings Changes

Several brokerages have issued reports on T. UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Evercore ISI raised their price target 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. Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.76.

Get Our Latest Analysis on AT&T

About AT&T

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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