Nicola Wealth Management LTD. Sells 327,500 Shares of AT&T Inc. (NYSE:T)

Nicola Wealth Management LTD. lessened its stake in shares of AT&T Inc. (NYSE:T) by 23.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,041,200 shares of the technology company’s stock after selling 327,500 shares during the quarter. AT&T comprises about 2.5% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 10th biggest position. Nicola Wealth Management LTD.’s holdings in AT&T were worth $23,708,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth $14,700,000. Swiss National Bank boosted its holdings in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp boosted its holdings in shares of AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Finally, Caprock Group LLC boosted its holdings in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 29th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.45.

AT&T Stock Up 1.0 %

Shares of NYSE T opened at $27.69 on Tuesday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.86. The firm has a market cap of $198.76 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 3.00 and a beta of 0.59. 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’s 50-day simple moving average is $24.01 and its 200-day simple moving average is $22.64.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (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%. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is 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.