Simplicity Wealth LLC Sells 13,516 Shares of AT&T Inc. (NYSE:T)

Simplicity Wealth LLC decreased its holdings in AT&T Inc. (NYSE:T) by 46.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,545 shares of the technology company’s stock after selling 13,516 shares during the period. Simplicity Wealth LLC’s holdings in AT&T were worth $354,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in T. Equitable Trust Co. lifted its stake in AT&T by 81.6% in the third quarter. Equitable Trust Co. now owns 25,703 shares of the technology company’s stock worth $565,000 after purchasing an additional 11,552 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in AT&T in the third quarter worth about $718,000. Assetmark Inc. lifted its stake in AT&T by 62.0% in the third quarter. Assetmark Inc. now owns 194,924 shares of the technology company’s stock worth $4,288,000 after purchasing an additional 74,607 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in AT&T by 6.7% in the third quarter. Mesirow Financial Investment Management Inc. now owns 88,353 shares of the technology company’s stock worth $1,944,000 after purchasing an additional 5,556 shares during the last quarter. Finally, Baker Avenue Asset Management LP bought a new stake in AT&T in the third quarter worth about $261,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.7 %

NYSE:T opened at $27.30 on Tuesday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.97. The firm has a fifty day simple moving average of $24.40 and a 200-day simple moving average of $22.90. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $195.96 billion, a P/E ratio of 18.32, a PEG ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted 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 anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.07%. AT&T’s dividend payout ratio is presently 74.50%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research report on Thursday, February 13th. Finally, UBS Group raised their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.74.

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.