Asset Dedication LLC Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Asset Dedication LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,942 shares of the technology company’s stock after selling 3,650 shares during the quarter. Asset Dedication LLC’s holdings in AT&T were worth $1,410,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in AT&T in the 2nd quarter worth $44,000. Scientech Research LLC purchased a new stake in shares of AT&T during the second quarter worth $219,000. Driehaus Capital Management LLC purchased a new stake in shares of AT&T during the second quarter worth $237,000. NewEdge Advisors LLC grew its holdings in shares of AT&T by 7.2% during the second quarter. NewEdge Advisors LLC now owns 473,303 shares of the technology company’s stock worth $9,045,000 after buying an additional 31,661 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of AT&T by 2.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 700,577 shares of the technology company’s stock worth $13,388,000 after buying an additional 18,869 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Sanford C. Bernstein boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday. Oppenheimer assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Evercore ISI boosted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $26.11.

AT&T Price Performance

T stock opened at $24.43 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business has a 50 day simple moving average of $22.86 and a 200-day simple moving average of $21.55. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.58. The company has a market capitalization of $175.26 billion, a P/E ratio of 19.86, a PEG ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. As a group, equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current 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 issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

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.