Financial Advocates Investment Management Reduces Stock Position in AT&T Inc. (NYSE:T)

Financial Advocates Investment Management trimmed its position in AT&T Inc. (NYSE:T) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,175 shares of the technology company’s stock after selling 15,135 shares during the quarter. Financial Advocates Investment Management’s holdings in AT&T were worth $1,416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Adero Partners LLC purchased a new position in shares of AT&T during the fourth quarter worth $231,000. YANKCOM Partnership acquired a new stake in AT&T during the 4th quarter worth about $30,000. Long Run Wealth Advisors LLC raised its stake in shares of AT&T by 2.2% during the 4th quarter. Long Run Wealth Advisors LLC now owns 64,085 shares of the technology company’s stock valued at $1,459,000 after buying an additional 1,353 shares during the last quarter. Trilogy Capital Inc. lifted its holdings in shares of AT&T by 8.6% in the 4th quarter. Trilogy Capital Inc. now owns 12,565 shares of the technology company’s stock valued at $286,000 after buying an additional 1,000 shares during the period. Finally, LCM Capital Management Inc boosted its stake in shares of AT&T by 4.9% in the fourth quarter. LCM Capital Management Inc now owns 12,630 shares of the technology company’s stock worth $288,000 after buying an additional 589 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Scotiabank lifted their price target on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 28th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, UBS Group increased their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $26.21.

AT&T Stock Performance

NYSE:T opened at $24.46 on Friday. The company has a market cap of $175.47 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.71 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98. The company’s 50-day moving average price is $22.99 and its 200-day moving average price is $21.75. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

AT&T 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.