Prairie Sky Financial Group LLC Sells 2,114 Shares of AT&T Inc. (NYSE:T)

Prairie Sky Financial Group LLC cut its position in AT&T Inc. (NYSE:T) by 17.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,159 shares of the technology company’s stock after selling 2,114 shares during the quarter. Prairie Sky Financial Group LLC’s holdings in AT&T were worth $231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AT&T by 2.3% in 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 purchasing an additional 3,630,972 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of AT&T by 1,901.0% during the second quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock valued at $60,518,000 after buying an additional 3,008,549 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares during the last quarter. Finally, National Pension Service grew its holdings in AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after buying an additional 2,152,016 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of AT&T stock opened at $22.30 on Tuesday. 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 business has a 50 day moving average of $22.79 and a 200 day moving average of $21.37. The company has a market cap of $159.97 billion, a PE ratio of 18.13, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, equities research analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analyst Weigh In

T has been the topic of several recent analyst reports. Tigress Financial lifted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. UBS Group boosted their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Evercore ISI boosted their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Sanford C. Bernstein started coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

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.