AT&T Inc. (NYSE:T) Shares Sold by PFG Investments LLC

PFG Investments LLC reduced its holdings in AT&T Inc. (NYSE:T) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,694 shares of the technology company’s stock after selling 11,421 shares during the quarter. PFG Investments LLC’s holdings in AT&T were worth $6,255,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of T. Strategic Investment Advisors MI acquired a new position in AT&T in the fourth quarter valued at $4,237,000. Drive Wealth Management LLC increased its holdings in AT&T by 24.4% in the fourth quarter. Drive Wealth Management LLC now owns 23,414 shares of the technology company’s stock valued at $533,000 after buying an additional 4,594 shares during the last quarter. Legacy Financial Group LLC bought a new position in shares of AT&T during the fourth quarter valued at approximately $212,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of AT&T by 12.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 200,874 shares of the technology company’s stock valued at $4,574,000 after purchasing an additional 22,229 shares during the last quarter. Finally, Stablepoint Partners LLC boosted its position in shares of AT&T by 1.1% during the fourth quarter. Stablepoint Partners LLC now owns 262,384 shares of the technology company’s stock worth $5,974,000 after buying an additional 2,827 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.7 %

NYSE:T opened at $22.69 on Monday. The company has a market cap of $162.77 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.50 and a beta of 0.59. The stock’s fifty day moving average price is $22.80 and its two-hundred day moving average price is $21.46. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Sanford C. Bernstein assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Citigroup upped their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average 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.