PSI Advisors LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

PSI Advisors LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 46.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,000 shares of the technology company’s stock after selling 2,574 shares during the period. PSI Advisors LLC’s holdings in AT&T were worth $68,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. Chesapeake Wealth Management increased its stake in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC boosted its holdings in AT&T by 2.5% in 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. Garden State Investment Advisory Services LLC boosted its holdings in 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 worth $759,000 after buying an additional 468 shares during the last quarter. Essex Savings Bank increased its stake in AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after buying an additional 480 shares in the last quarter. Finally, Hayek Kallen Investment Management raised its holdings in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 1.1 %

Shares of NYSE:T opened at $21.80 on Wednesday. The business has a 50-day moving average price of $22.80 and a 200 day moving average price of $21.28. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $156.42 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Sell-side analysts expect that AT&T Inc. will post 2.19 EPS for the current 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 dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.09%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on T. Tigress Financial lifted their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Citigroup upped their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company lowered their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Evercore ISI upped their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.76.

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.