Guardian Investment Management Cuts Stock Position in AT&T Inc. (NYSE:T)

Guardian Investment Management cut its holdings in AT&T Inc. (NYSE:T) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,132 shares of the technology company’s stock after selling 2,031 shares during the quarter. Guardian Investment Management’s holdings in AT&T were worth $992,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Carmel Capital Partners LLC boosted its stake in AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after buying an additional 1,625 shares during the period. Lipe & Dalton purchased a new position in AT&T during the third quarter worth $30,000. Ramirez Asset Management Inc. purchased a new position in AT&T during the third quarter worth $30,000. FWL Investment Management LLC purchased a new position in AT&T during the fourth quarter worth $31,000. Finally, Financial Freedom LLC purchased a new position in AT&T during the fourth quarter worth $34,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on T shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Friday, January 19th. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Finally, Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.68.

AT&T Stock Up 0.8 %

Shares of T stock traded up $0.13 on Thursday, hitting $16.25. The stock had a trading volume of 20,299,478 shares, compared to its average volume of 38,350,898. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average price of $17.02 and a 200 day moving average price of $16.48. The company has a market cap of $116.23 billion, a PE ratio of 8.27, a P/E/G ratio of 2.43 and a beta of 0.57. AT&T Inc. has a one year low of $13.43 and a one year high of $19.83.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.83%. AT&T’s dividend payout ratio is presently 56.63%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.