AT&T Inc. (NYSE:T) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its stake in shares of AT&T Inc. (NYSE:T) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,810 shares of the technology company’s stock after selling 1,601 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in AT&T were worth $1,202,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of AT&T in the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new position in shares of AT&T during the 4th quarter valued at $34,000. Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T in the 3rd quarter worth $35,000. Finally, Reston Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter worth $35,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.7 %

Shares of NYSE:T opened at $24.23 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock’s 50-day moving average is $22.86 and its 200-day moving average is $21.55. The company has a market cap of $173.89 billion, a P/E ratio of 19.70, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. Equities research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

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 4.58%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on T shares. Morgan Stanley raised shares of 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. The Goldman Sachs Group upped their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. UBS Group increased their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $26.11.

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.