Wallace Advisory Group LLC Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Wallace Advisory Group LLC trimmed its position in AT&T Inc. (NYSE:T) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,102 shares of the technology company’s stock after selling 827 shares during the quarter. Wallace Advisory Group LLC’s holdings in AT&T were worth $838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC raised its stake in AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. FMR LLC raised its stake in AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after purchasing an additional 1,149,688 shares in the last quarter. Legal & General Group Plc grew its position in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. grew its position in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in AT&T by 2.5% during the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after acquiring an additional 675,082 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE:T opened at $21.56 on Tuesday. The stock has a market cap of $154.70 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The firm’s fifty day simple moving average is $22.81 and its 200 day simple moving average is $21.26. 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:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent research reports. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Evercore ISI increased their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Barclays raised their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Company Profile

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.