Future Financial Wealth Managment LLC Sells 7,068 Shares of AT&T Inc. (NYSE:T)

Future Financial Wealth Managment LLC lessened its holdings in AT&T Inc. (NYSE:T) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,286 shares of the technology company’s stock after selling 7,068 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in AT&T were worth $576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings 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 worth $29,000 after acquiring an additional 841 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in AT&T during the 3rd quarter valued at about $35,000. Reston Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter valued at about $35,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Sanford C. Bernstein assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $22.00 to $26.00 in a research report on Monday, January 6th. Tigress Financial increased their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T Stock Performance

NYSE:T traded down $0.20 during midday trading on Monday, reaching $21.49. The stock had a trading volume of 18,413,706 shares, compared to its average volume of 31,338,211. The firm has a fifty day simple moving average of $22.81 and a two-hundred day simple moving average of $21.24. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $154.20 billion, a P/E ratio of 17.47, a P/E/G ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, equities analysts expect that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.