ProVise Management Group LLC Sells 2,716 Shares of AT&T Inc. (NYSE:T)

ProVise Management Group LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 7.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,882 shares of the technology company’s stock after selling 2,716 shares during the quarter. ProVise Management Group LLC’s holdings in AT&T were worth $726,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $25,000. Marshall Investment Management LLC acquired a new stake in shares of AT&T during the 4th quarter worth about $28,000. Tradewinds Capital Management LLC raised its stake in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares in the last quarter. YANKCOM Partnership bought a new stake in AT&T in the 4th quarter valued at about $30,000. Finally, Endeavor Private Wealth Inc. bought a new stake in AT&T in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Barclays boosted their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday, January 16th. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Price Performance

T stock opened at $26.85 on Thursday. The company has a 50 day simple moving average of $24.93 and a 200 day simple moving average of $23.20. The stock has a market cap of $192.75 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.97. 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 released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

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.