PFG Investments LLC Decreases Holdings in AT&T Inc. (NYSE:T)

PFG Investments LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 4.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 274,694 shares of the technology company’s stock after selling 11,421 shares during the quarter. PFG Investments LLC’s holdings in AT&T were worth $6,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. Strategic Investment Advisors MI purchased a new stake in AT&T in the 4th quarter worth $4,237,000. Drive Wealth Management LLC grew its position in AT&T by 24.4% in the fourth quarter. Drive Wealth Management LLC now owns 23,414 shares of the technology company’s stock worth $533,000 after acquiring an additional 4,594 shares in the last quarter. Legacy Financial Group LLC purchased a new position in AT&T in the fourth quarter worth about $212,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in AT&T by 12.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 200,874 shares of the technology company’s stock worth $4,574,000 after acquiring an additional 22,229 shares in the last quarter. Finally, Stablepoint Partners LLC boosted its position in shares of AT&T by 1.1% during the fourth quarter. Stablepoint Partners LLC now owns 262,384 shares of the technology company’s stock valued at $5,974,000 after buying an additional 2,827 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on T shares. Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Citigroup upped their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays boosted their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Stock Performance

Shares of T stock opened at $22.69 on Monday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The firm has a market capitalization of $162.77 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The business has a 50 day simple moving average of $22.80 and a 200 day simple moving average of $21.46. 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 Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

AT&T Company 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.