AT&T Inc. (NYSE:T) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its holdings in AT&T Inc. (NYSE:T) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,628,663 shares of the technology company’s stock after selling 62,002 shares during the period. AT&T accounts for approximately 0.7% of Exchange Traded Concepts LLC’s portfolio, making the stock its 18th largest holding. Exchange Traded Concepts LLC’s holdings in AT&T were worth $37,085,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new position in shares of AT&T during the 4th quarter valued at about $34,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T in the third quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in AT&T in the third quarter valued at approximately $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

T stock opened at $22.58 on Friday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The firm has a 50 day simple moving average of $22.80 and a 200 day simple moving average of $21.40. 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 stock has a market cap of $162.01 billion, a P/E ratio of 18.34, a P/E/G ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.92%. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

T has been the topic of several research reports. Tigress Financial raised their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Evercore ISI raised their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.83.

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.