Synergy Asset Management LLC Reduces Position in AT&T Inc. (NYSE:T)

Synergy Asset Management LLC decreased its holdings in AT&T Inc. (NYSE:T) by 85.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,103 shares of the technology company’s stock after selling 92,412 shares during the quarter. Synergy Asset Management LLC’s holdings in AT&T were worth $368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in AT&T in the fourth quarter valued at about $14,700,000. Swiss National Bank lifted its stake in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. grew its position in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares during the period. Caprock Group LLC grew its position in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after buying an additional 30,281 shares during the period. Finally, Talbot Financial LLC purchased a new stake in AT&T during the third quarter valued at approximately $7,438,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.8 %

T stock opened at $24.04 on Friday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The firm’s 50-day moving average is $22.89 and its 200 day moving average is $21.57. The company has a market capitalization of $172.46 billion, a PE ratio of 16.13, a P/E/G ratio of 2.81 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, research analysts anticipate that AT&T Inc. will post 2.12 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. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 74.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Oppenheimer initiated coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Evercore ISI raised their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.11.

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.