Kingsview Wealth Management LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Kingsview Wealth Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 258,079 shares of the technology company’s stock after selling 1,754 shares during the quarter. Kingsview Wealth Management LLC’s holdings in AT&T were worth $5,876,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $25,000. YANKCOM Partnership purchased a new position in shares of AT&T in the 4th quarter valued at approximately $30,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of 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 valued at $29,000 after purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new position in shares of AT&T in the 4th quarter valued at approximately $34,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on T shares. Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Oppenheimer began coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Royal Bank of Canada increased their price target on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Tigress Financial increased their price target on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, UBS Group increased their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T Price Performance

Shares of NYSE T opened at $24.56 on Friday. The stock has a market capitalization of $176.19 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.79 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The firm’s 50 day simple moving average is $23.04 and its 200-day simple moving average is $21.81. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Analysts expect that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.52%. AT&T’s dividend payout ratio is currently 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.