Armor Investment Advisors LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

Armor Investment Advisors LLC reduced its stake in AT&T Inc. (NYSE:T) by 10.9% during the 4th quarter, Holdings Channel reports. The fund owned 8,962 shares of the technology company’s stock after selling 1,098 shares during the period. Armor Investment Advisors LLC’s holdings in AT&T were worth $204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB increased its stake in AT&T by 305.1% in the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after purchasing an additional 1,161,152 shares during the last quarter. Ritholtz Wealth Management increased its stake in AT&T by 33.7% in the third quarter. Ritholtz Wealth Management now owns 85,944 shares of the technology company’s stock valued at $1,891,000 after purchasing an additional 21,652 shares during the last quarter. Mechanics Bank Trust Department acquired a new position in AT&T in the third quarter valued at $210,000. Annex Advisory Services LLC increased its stake in AT&T by 10.7% during the third quarter. Annex Advisory Services LLC now owns 16,053 shares of the technology company’s stock worth $353,000 after acquiring an additional 1,557 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its stake in AT&T by 21.2% during the third quarter. Redhawk Wealth Advisors Inc. now owns 30,358 shares of the technology company’s stock worth $668,000 after acquiring an additional 5,320 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.3 %

Shares of T opened at $24.86 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a 50-day moving average price of $23.04 and a 200 day moving average price of $21.86. AT&T Inc. has a one year low of $15.94 and a one year high of $24.98. The company has a market capitalization of $178.38 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 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%. Sell-side analysts forecast that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

Wall Street Analysts Forecast Growth

T has been the subject of several research analyst reports. Oppenheimer initiated coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Citigroup upped their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Tigress Financial upped their price target on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Barclays upped their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, UBS Group upped their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

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.