AT&T Inc. (NYSE:T) Shares Sold by ShoreHaven Wealth Partners LLC

ShoreHaven Wealth Partners LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 40.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,851 shares of the technology company’s stock after selling 5,923 shares during the period. ShoreHaven Wealth Partners LLC’s holdings in AT&T were worth $202,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northeast Investment Management raised its holdings in shares of AT&T by 0.9% during the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 451 shares during the period. Chesapeake Wealth Management increased its position in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the last quarter. Luts & Greenleigh Group Inc. increased its position in AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after purchasing an additional 460 shares during the last quarter. Socha Financial Group LLC raised its stake in AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares during the period. Finally, Garden State Investment Advisory Services LLC boosted its holdings in AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after purchasing an additional 468 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 1.0 %

Shares of NYSE T opened at $25.63 on Friday. The stock has a market cap of $183.87 billion, a P/E ratio of 17.20, a PEG ratio of 2.79 and a beta of 0.59. The business’s fifty day simple moving average is $23.15 and its 200-day simple moving average is $21.96. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $25.74. 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 posted 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 return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The company 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 4.33%. AT&T’s dividend payout ratio is currently 74.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on T shares. Wells Fargo & Company cut their price target 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. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 16th. Barclays upped their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, January 29th. Finally, Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $28.00 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

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.