AT&T Inc. (NYSE:T) Shares Sold by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. lowered its position in AT&T Inc. (NYSE:T) by 6.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 47,255 shares of the technology company’s stock after selling 3,249 shares during the quarter. Avantax Planning Partners Inc.’s holdings in AT&T were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in T. Assetmark Inc. boosted its holdings in AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after buying an additional 9,719,036 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after buying an additional 5,649,277 shares in the last quarter. Amundi boosted its holdings in AT&T by 19.8% during the fourth quarter. Amundi now owns 33,963,826 shares of the technology company’s stock worth $753,318,000 after buying an additional 5,614,168 shares in the last quarter. Geode Capital Management LLC boosted its holdings in AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays raised their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Sanford C. Bernstein raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Oppenheimer began coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Citigroup raised their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada raised their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Stock Down 4.6 %

AT&T stock opened at $26.02 on Wednesday. The company has a market capitalization of $186.74 billion, a P/E ratio of 17.46, a P/E/G ratio of 3.00 and a beta of 0.56. The firm’s fifty day simple moving average is $24.46 and its 200-day simple moving average is $22.94. 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 Inc. has a 1-year low of $15.94 and a 1-year high of $27.97.

AT&T (NYSE:T) last announced its earnings results 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%. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.27%. 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.