Parsons Capital Management Inc. RI Sells 19,777 Shares of AT&T Inc. (NYSE:T)

Parsons Capital Management Inc. RI decreased its position in AT&T Inc. (NYSE:T) by 40.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,382 shares of the technology company’s stock after selling 19,777 shares during the period. Parsons Capital Management Inc. RI’s holdings in AT&T were worth $669,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in T. Mount Yale Investment Advisors LLC grew its holdings in AT&T by 5.0% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 30,967 shares of the technology company’s stock worth $705,000 after acquiring an additional 1,476 shares during the period. Ridgecrest Wealth Partners LLC lifted its stake in shares of AT&T by 21.2% in the 4th quarter. Ridgecrest Wealth Partners LLC now owns 18,388 shares of the technology company’s stock valued at $419,000 after purchasing an additional 3,216 shares during the period. Valued Wealth Advisors LLC boosted its position in shares of AT&T by 51.0% in the 4th quarter. Valued Wealth Advisors LLC now owns 3,561 shares of the technology company’s stock worth $81,000 after purchasing an additional 1,202 shares during the last quarter. Center For Asset Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth $1,636,000. Finally, KBC Group NV increased its holdings in AT&T by 7.9% in the fourth quarter. KBC Group NV now owns 1,455,824 shares of the technology company’s stock valued at $33,149,000 after purchasing an additional 106,367 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on T. Barclays boosted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada upped their target price on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday. Sanford C. Bernstein lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.06.

AT&T Price Performance

NYSE T opened at $24.43 on Wednesday. The firm’s 50 day moving average is $22.83 and its 200-day moving average is $21.51. 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 company has a market capitalization of $175.26 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.58.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Equities research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 annualized dividend and a yield of 4.54%. 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.