AT&T Inc. (NYSE:T) Shares Sold by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. decreased its stake in AT&T Inc. (NYSE:T) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,670 shares of the technology company’s stock after selling 2,718 shares during the period. Culbertson A N & Co. Inc.’s holdings in AT&T were worth $1,700,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of T. Legacy Investment Solutions LLC purchased a new position in AT&T during the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of AT&T by 169.2% in 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 acquiring an additional 841 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T during the third quarter worth approximately $35,000. Reston Wealth Management LLC purchased a new stake in AT&T in the 3rd quarter valued at $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in AT&T in the 2nd quarter valued at $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE T opened at $22.30 on Tuesday. The business has a 50 day moving average price of $22.79 and a 200 day moving average price of $21.35. The company has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Sell-side analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. 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 payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

A number of research analysts have commented on T shares. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Citigroup lifted 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. JPMorgan Chase & Co. upped their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted 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 assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.83.

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.