Selective Wealth Management Inc. Trims Stake in AT&T Inc. (NYSE:T)

Selective Wealth Management Inc. lessened its position in shares of AT&T Inc. (NYSE:T) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,184 shares of the technology company’s stock after selling 1,070 shares during the quarter. Selective Wealth Management Inc.’s holdings in AT&T were worth $287,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Brooklyn Investment Group boosted its stake in shares of AT&T by 2.8% during the fourth quarter. Brooklyn Investment Group now owns 55,522 shares of the technology company’s stock worth $1,264,000 after buying an additional 1,513 shares during the period. Albert D Mason Inc. raised its stake in AT&T by 5.2% during the 4th quarter. Albert D Mason Inc. now owns 35,484 shares of the technology company’s stock valued at $808,000 after acquiring an additional 1,747 shares during the last quarter. Sax Wealth Advisors LLC lifted its position in AT&T by 3.4% during the 4th quarter. Sax Wealth Advisors LLC now owns 35,312 shares of the technology company’s stock worth $804,000 after acquiring an additional 1,176 shares during the period. Somerset Trust Co grew its stake in shares of AT&T by 5.8% in the 4th quarter. Somerset Trust Co now owns 57,350 shares of the technology company’s stock valued at $1,306,000 after purchasing an additional 3,127 shares during the last quarter. Finally, Merit Financial Group LLC increased its holdings in shares of AT&T by 39.9% in the fourth quarter. Merit Financial Group LLC now owns 299,931 shares of the technology company’s stock valued at $6,829,000 after purchasing an additional 85,482 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on T. UBS Group upped their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Oppenheimer 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 objective for the company. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Evercore ISI increased their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein began coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Up 1.2 %

Shares of T opened at $22.30 on Friday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The company has a market capitalization of $159.97 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The stock has a fifty day moving average of $22.79 and a two-hundred day moving average of $21.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last released its earnings results 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 firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts forecast that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

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

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.