Sanders Morris Harris LLC Has $1.24 Million Stock Holdings in AT&T Inc. (NYSE:T)

Sanders Morris Harris LLC reduced its position in AT&T Inc. (NYSE:T) by 2.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 54,160 shares of the technology company’s stock after selling 1,550 shares during the period. Sanders Morris Harris LLC’s holdings in AT&T were worth $1,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. IFS Advisors LLC raised its stake in shares of AT&T by 286.6% during the fourth quarter. IFS Advisors LLC now owns 3,329 shares of the technology company’s stock worth $76,000 after buying an additional 2,468 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in AT&T during the 4th quarter worth $258,000. Smith Thornton Advisors LLC grew its holdings in AT&T by 27.6% during the 4th quarter. Smith Thornton Advisors LLC now owns 67,557 shares of the technology company’s stock worth $1,538,000 after acquiring an additional 14,604 shares during the period. Stolper Co raised its position in shares of AT&T by 0.5% during the 4th quarter. Stolper Co now owns 126,055 shares of the technology company’s stock valued at $2,870,000 after acquiring an additional 646 shares during the last quarter. Finally, Roble Belko & Company Inc lifted its stake in shares of AT&T by 302.7% in the 4th quarter. Roble Belko & Company Inc now owns 4,837 shares of the technology company’s stock valued at $110,000 after purchasing an additional 3,636 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. 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 price target on the stock. Wells Fargo & Company decreased 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. Finally, UBS Group upped their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Up 0.8 %

AT&T stock opened at $22.08 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a 50-day moving average of $22.80 and a 200-day moving average of $21.28. The company has a market cap of $158.43 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 3.46 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. On average, equities analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 5.03%. 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.