Lantz Financial LLC Trims Position in AT&T Inc. (NYSE:T)

Lantz Financial LLC reduced its holdings in AT&T Inc. (NYSE:T) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,531 shares of the technology company’s stock after selling 1,588 shares during the period. Lantz Financial LLC’s holdings in AT&T were worth $422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in AT&T in the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new position in shares of AT&T in the 4th quarter valued at $34,000. Reston Wealth Management LLC purchased a new stake in AT&T during the third quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in AT&T during the third quarter valued at $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.7 %

NYSE T opened at $22.69 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $162.77 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The firm has a 50-day moving average price of $22.80 and a 200 day moving average price of $21.44.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company 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 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on T. Citigroup lifted their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Finally, UBS Group increased their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

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.