LGT Group Foundation Trims Stock Position in AT&T Inc. (NYSE:T)

LGT Group Foundation lessened its stake in shares of AT&T Inc. (NYSE:T) by 27.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 150,350 shares of the technology company’s stock after selling 57,340 shares during the quarter. LGT Group Foundation’s holdings in AT&T were worth $3,423,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of T. Chicago Partners Investment Group LLC increased its holdings in shares of AT&T by 8.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 56,156 shares of the technology company’s stock valued at $1,263,000 after acquiring an additional 4,244 shares during the period. F M Investments LLC acquired a new position in shares of AT&T in the 3rd quarter valued at $223,000. Pure Financial Advisors LLC increased its holdings in shares of AT&T by 11.7% in the 3rd quarter. Pure Financial Advisors LLC now owns 20,463 shares of the technology company’s stock valued at $450,000 after acquiring an additional 2,148 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of AT&T in the 3rd quarter valued at $62,000. Finally, Confluence Wealth Services Inc. increased its holdings in shares of AT&T by 4.7% in the 3rd quarter. Confluence Wealth Services Inc. now owns 53,279 shares of the technology company’s stock valued at $1,172,000 after acquiring an additional 2,383 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on T. UBS Group lifted their target price 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. Tigress Financial lifted their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Scotiabank boosted their price objective on shares of AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research note on Monday. Finally, Royal Bank of Canada boosted their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.45.

AT&T Price Performance

AT&T stock opened at $27.69 on Tuesday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.86. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm’s 50-day simple moving average is $24.01 and its 200 day simple moving average is $22.64. The firm has a market capitalization of $198.76 billion, a PE ratio of 18.58, a P/E/G ratio of 3.00 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.01%. AT&T’s dividend payout ratio 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.