Skba Capital Management LLC Sells 39,000 Shares of AT&T Inc. (NYSE:T)

Skba Capital Management LLC lowered its holdings in AT&T Inc. (NYSE:T) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 996,750 shares of the technology company’s stock after selling 39,000 shares during the period. AT&T makes up 3.6% of Skba Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Skba Capital Management LLC’s holdings in AT&T were worth $22,696,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Acropolis Investment Management LLC grew its position in AT&T by 77.1% in the third quarter. Acropolis Investment Management LLC now owns 22,881 shares of the technology company’s stock valued at $503,000 after acquiring an additional 9,961 shares in the last quarter. Encompass More Asset Management purchased a new stake in AT&T during the 3rd quarter worth $225,000. Tradition Wealth Management LLC acquired a new position in AT&T in the 3rd quarter worth $270,000. True Wealth Design LLC boosted its position in AT&T by 1,936.9% in the 3rd quarter. True Wealth Design LLC now owns 5,520 shares of the technology company’s stock valued at $121,000 after buying an additional 5,249 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of AT&T during the third quarter valued at about $22,307,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on T. Barclays boosted 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. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Scotiabank raised their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Price Performance

Shares of NYSE:T opened at $28.20 on Monday. The firm’s 50 day moving average is $25.70 and its two-hundred day moving average is $23.54. The firm has a market capitalization of $202.40 billion, a P/E ratio of 18.92, a PEG ratio of 3.00 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $28.51.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.94%. AT&T’s 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.