AT&T Inc. (NYSE:T) Stock Position Cut by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft trimmed its stake in shares of AT&T Inc. (NYSE:T) by 29.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,434 shares of the technology company’s stock after selling 5,235 shares during the period. Baader Bank Aktiengesellschaft’s holdings in AT&T were worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in T. Chesapeake Wealth Management grew its position in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after buying an additional 460 shares during the last quarter. Luts & Greenleigh Group Inc. raised its position in shares of AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC lifted its holdings in shares of AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its position in shares of AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after purchasing an additional 468 shares during the period. Finally, Essex Savings Bank increased its stake in AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after purchasing an additional 480 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Down 0.8 %

Shares of NYSE:T opened at $24.04 on Friday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The firm has a fifty day moving average price of $22.89 and a 200 day moving average price of $21.57. The company has a current ratio of 0.66, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $172.46 billion, a PE ratio of 16.13, a P/E/G ratio of 2.81 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts expect that AT&T Inc. will post 2.12 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is 74.50%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays upped their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer began coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Evercore ISI increased their price objective 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus 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.