Ingalls & Snyder LLC Sells 58,606 Shares of AT&T Inc. (NYSE:T)

Ingalls & Snyder LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 24.7% during the fourth quarter, HoldingsChannel reports. The firm owned 178,290 shares of the technology company’s stock after selling 58,606 shares during the quarter. Ingalls & Snyder LLC’s holdings in AT&T were worth $4,060,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of AT&T by 169.2% during the 3rd 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. YANKCOM Partnership bought a new stake in shares of AT&T during the 4th quarter valued at about $30,000. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T during the 4th quarter valued at about $34,000. Finally, Reston Wealth Management LLC bought a new stake in AT&T during the third quarter worth about $35,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 16th. Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Tigress Financial boosted their price objective on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Barclays boosted their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $26.21.

AT&T Stock Up 0.9 %

Shares of T stock opened at $25.37 on Thursday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $25.38. The stock has a market cap of $182.04 billion, a P/E ratio of 17.03, a P/E/G ratio of 2.79 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a 50 day simple moving average of $23.11 and a two-hundred day simple moving average of $21.94.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, research analysts expect that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

The firm 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. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.38%. AT&T’s dividend payout ratio is currently 74.50%.

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.