AT&T Inc. (NYSE:T) Stock Position Lowered by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC decreased its position in AT&T Inc. (NYSE:T) by 5.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,964 shares of the technology company’s stock after selling 685 shares during the period. KMG Fiduciary Partners LLC’s holdings in AT&T were worth $250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE grew its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in AT&T during the third quarter valued at approximately $35,000. Reston Wealth Management LLC acquired a new position in AT&T in the 3rd quarter valued at approximately $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in AT&T in the 2nd quarter worth approximately $30,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on T. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Evercore ISI upped their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. UBS Group increased their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Trading Up 1.2 %

AT&T stock opened at $22.30 on Friday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market capitalization of $159.97 billion, a PE ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. The business’s 50-day simple moving average is $22.79 and its 200-day simple moving average is $21.29.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the business posted $0.64 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.