Atlas Private Wealth Advisors Reduces Stake in AT&T Inc. (NYSE:T)

Atlas Private Wealth Advisors trimmed its position in shares of AT&T Inc. (NYSE:T) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 124,873 shares of the technology company’s stock after selling 2,987 shares during the quarter. Atlas Private Wealth Advisors’ holdings in AT&T were worth $2,843,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in AT&T during the second quarter worth $44,000. APG Asset Management N.V. boosted its stake in shares of AT&T by 6.8% during the second quarter. APG Asset Management N.V. now owns 4,621,726 shares of the technology company’s stock valued at $82,408,000 after acquiring an additional 294,388 shares during the last quarter. Delta Investment Management LLC increased its position in AT&T by 19.3% during the 2nd quarter. Delta Investment Management LLC now owns 12,139 shares of the technology company’s stock worth $232,000 after purchasing an additional 1,962 shares in the last quarter. Daymark Wealth Partners LLC raised its stake in AT&T by 29.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 26,966 shares of the technology company’s stock valued at $515,000 after purchasing an additional 6,176 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new position in AT&T in the 2nd quarter valued at about $9,836,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup upped their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Performance

Shares of T stock opened at $22.69 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market cap of $162.77 billion, a PE ratio of 18.44, a P/E/G ratio of 3.50 and a beta of 0.59. The company’s fifty day simple moving average is $22.80 and its 200-day simple moving average is $21.41. 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 quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the company posted $0.64 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio 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.