MassMutual Private Wealth & Trust FSB Sells 5,996 Shares of AT&T Inc. (NYSE:T)

MassMutual Private Wealth & Trust FSB lessened its holdings in AT&T Inc. (NYSE:T) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,963 shares of the technology company’s stock after selling 5,996 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in AT&T were worth $751,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of AT&T by 169.2% during 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 during the last quarter. Reston Wealth Management LLC acquired a new position in shares of AT&T in the third quarter valued at approximately $35,000. Safe Harbor Fiduciary LLC bought a new position in AT&T in the 3rd quarter valued at approximately $35,000. Finally, Marquette Asset Management LLC acquired a new stake in AT&T during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.9 %

Shares of NYSE:T opened at $22.49 on Wednesday. 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 52-week low of $15.94 and a 52-week high of $24.03. The business’s 50 day simple moving average is $22.79 and its two-hundred day simple moving average is $21.37. The firm has a market cap of $161.40 billion, a P/E ratio of 18.29, a PEG ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) 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 company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the business earned $0.64 EPS. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. As a group, research analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup raised their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One equities 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.83.

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.