McKinley Carter Wealth Services Inc. Trims Holdings in AT&T Inc. (NYSE:T)

McKinley Carter Wealth Services Inc. cut its stake in AT&T Inc. (NYSE:T) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 20,304 shares of the technology company’s stock after selling 786 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in AT&T were worth $462,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in AT&T in the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE grew its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new position in AT&T during the 4th quarter worth $34,000. Reston Wealth Management LLC purchased a new position in AT&T during the 3rd quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $26.11.

AT&T Price Performance

Shares of T opened at $24.23 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company’s fifty day moving average price is $22.86 and its 200-day moving average price is $21.55. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.98. The firm has a market capitalization of $173.89 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last posted its 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 net margin of 7.42% and a return on equity of 13.97%. On average, equities research analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 annualized dividend and a yield of 4.58%. AT&T’s dividend payout ratio is presently 90.24%.

AT&T 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.