Center for Financial Planning Inc. Sells 2,320 Shares of AT&T Inc. (NYSE:T)

Center for Financial Planning Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 14.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,654 shares of the technology company’s stock after selling 2,320 shares during the quarter. Center for Financial Planning Inc.’s holdings in AT&T were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Northeast Investment Management grew its stake in AT&T by 0.9% during the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock worth $1,166,000 after buying an additional 451 shares during the last quarter. Chesapeake Wealth Management grew its stake in AT&T by 1.9% during the 3rd 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. grew its stake in AT&T by 2.8% during the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after buying an additional 460 shares during the last quarter. Socha Financial Group LLC grew its stake 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 buying an additional 461 shares during the last quarter. Finally, 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 worth $759,000 after buying an additional 468 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of AT&T stock opened at $25.88 on Friday. The business has a 50 day simple moving average of $23.19 and a two-hundred day simple moving average of $21.99. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $25.93. The stock has a market capitalization of $185.66 billion, a P/E ratio of 17.37, a PEG ratio of 2.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

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%. As a group, analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.29%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Analysts Set New Price Targets

Several research firms have weighed in on T. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Citigroup boosted their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada upped their target price on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.33.

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.