Cliftonlarsonallen Wealth Advisors LLC Reduces Stake in AT&T Inc. (NYSE:T)

Cliftonlarsonallen Wealth Advisors LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 11.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,335 shares of the technology company’s stock after selling 1,340 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC’s holdings in AT&T were worth $235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Davidson Kempner Capital Management LP bought a new stake in AT&T during the second quarter valued at $23,888,000. International Assets Investment Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $14,700,000. Swiss National Bank boosted its position in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its stake in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Finally, Caprock Group LLC increased its position in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on T shares. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company dropped their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Oppenheimer initiated coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Stock Performance

Shares of NYSE T traded up $0.17 during midday trading on Wednesday, hitting $21.97. 10,177,371 shares of the company’s stock traded hands, compared to its average volume of 30,532,086. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The stock has a market capitalization of $157.64 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The firm has a fifty day moving average of $22.80 and a 200 day moving average of $21.28.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm 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 business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The company 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 $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.05%. AT&T’s payout ratio is currently 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.