Fourpath Capital Management LLC Cuts Stake in AT&T Inc. (NYSE:T)

Fourpath Capital Management LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,980 shares of the technology company’s stock after selling 6,907 shares during the period. Fourpath Capital Management LLC’s holdings in AT&T were worth $4,075,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Chesapeake Wealth Management raised its holdings in shares of 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 stake in AT&T by 2.8% in the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after acquiring an additional 460 shares during the last quarter. Socha Financial Group LLC lifted its position in AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after acquiring an additional 461 shares during the period. Garden State Investment Advisory Services LLC grew its stake in AT&T by 1.4% during 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 last quarter. Finally, Essex Savings Bank increased its holdings in shares of AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Royal Bank of Canada boosted their target price on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Scotiabank increased their price target on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 28th. Finally, Barclays boosted their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $26.11.

AT&T Stock Up 2.2 %

T stock opened at $24.26 on Tuesday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a 50-day simple moving average of $22.92 and a 200-day simple moving average of $21.66. The stock has a market capitalization of $174.04 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.71 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 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 8.95%. Equities analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.58%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

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.