Paradigm Asset Management Co. LLC Trims Position in AT&T Inc. (NYSE:T)

Paradigm Asset Management Co. LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 65.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,280 shares of the technology company’s stock after selling 99,500 shares during the period. Paradigm Asset Management Co. LLC’s holdings in AT&T were worth $1,213,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in T. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the period. YANKCOM Partnership purchased a new stake in AT&T in the fourth quarter worth $30,000. Endeavor Private Wealth Inc. purchased a new stake in AT&T in the fourth quarter worth $34,000. Finally, Reston Wealth Management LLC purchased a new stake in AT&T in the third quarter worth $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.2 %

Shares of NYSE:T opened at $26.18 on Friday. The company has a market cap of $187.95 billion, a P/E ratio of 17.57, a PEG ratio of 3.01 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $26.35. The stock’s fifty day moving average price is $23.44 and its 200-day moving average price is $22.23.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) 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%. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is 74.50%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on T. UBS Group upped their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Citigroup upped their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $26.33.

About AT&T

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.