AT&T Inc. (NYSE:T) Shares Sold by Smith Salley Wealth Management

Smith Salley Wealth Management lessened its stake in shares of AT&T Inc. (NYSE:T) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,105 shares of the technology company’s stock after selling 792 shares during the quarter. Smith Salley Wealth Management’s holdings in AT&T were worth $2,507,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. FMR LLC boosted its holdings in shares of AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Legal & General Group Plc grew its position in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Ameriprise Financial Inc. increased its stake in AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of several research analyst reports. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Wells Fargo & Company lowered their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays raised their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Stock Performance

Shares of NYSE T opened at $22.30 on Friday. The stock has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. The firm’s 50-day moving average price is $22.79 and its two-hundred day moving average price is $21.31. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.