Solitude Financial Services Cuts Holdings in AT&T Inc. (NYSE:T)

Solitude Financial Services lessened its stake in AT&T Inc. (NYSE:T) by 18.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 51,680 shares of the technology company’s stock after selling 11,440 shares during the quarter. AT&T accounts for approximately 0.5% of Solitude Financial Services’ portfolio, making the stock its 17th biggest position. Solitude Financial Services’ holdings in AT&T were worth $1,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC purchased a new stake in AT&T during the 4th quarter worth about $14,700,000. Swiss National Bank raised its position in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Franklin Resources Inc. raised its position in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares in the last quarter. Consolidated Planning Corp lifted its stake in 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 AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T opened at $27.15 on Monday. 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 stock’s 50 day moving average is $24.30 and its two-hundred day moving average is $22.84. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The firm has a market capitalization of $194.85 billion, a PE ratio of 18.22, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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%. Research 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 declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid 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 dividend yield of 4.09%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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 report on Wednesday, December 4th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a report on Thursday, February 13th. Scotiabank boosted their target price on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.74.

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.