SOL Capital Management CO Lowers Position in AT&T Inc. (NYSE:T)

SOL Capital Management CO lessened its stake in AT&T Inc. (NYSE:T) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 23,141 shares of the technology company’s stock after selling 558 shares during the period. SOL Capital Management CO’s holdings in AT&T were worth $527,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of T. International Assets Investment Management LLC acquired a new stake in AT&T in the 4th quarter valued at about $14,700,000. Swiss National Bank grew its holdings in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Franklin Resources Inc. increased its position in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares during the period. Caprock Group LLC increased its holdings in shares of AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares during the period. Finally, Talbot Financial LLC purchased a new stake in shares of AT&T in the third quarter valued at about $7,438,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 1.2 %

Shares of AT&T stock opened at $23.74 on Friday. 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 $170.34 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 2.81 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98. The business’s 50 day simple moving average is $22.91 and its 200-day simple moving average is $21.59.

AT&T (NYSE:T) last issued 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 return on equity of 13.97% and a net margin of 8.95%. Equities research analysts forecast that AT&T Inc. will post 2.12 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.68%. AT&T’s dividend payout ratio is presently 74.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday. Citigroup upped their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Argus raised shares of 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. Finally, Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company 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.