Sonora Investment Management Group LLC Sells 8,166 Shares of AT&T Inc. (NYSE:T)

Sonora Investment Management Group LLC lessened its stake in AT&T Inc. (NYSE:T) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,217 shares of the technology company’s stock after selling 8,166 shares during the period. Sonora Investment Management Group LLC’s holdings in AT&T were worth $3,944,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Chesapeake Wealth Management grew its holdings in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the last quarter. Luts & Greenleigh Group Inc. raised its stake in shares of AT&T by 2.8% during the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares during the last quarter. Socha Financial Group LLC increased its holdings in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC lifted its position in shares of AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after buying an additional 468 shares in the last quarter. Finally, Essex Savings Bank lifted its stake in AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after buying an additional 480 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on T. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday, January 16th. The Goldman Sachs Group raised their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $26.11.

AT&T Price Performance

Shares of NYSE T opened at $24.04 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $22.89 and its 200-day moving average is $21.57. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.98. The firm has a market cap of $172.46 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (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%. Equities research analysts predict that AT&T Inc. will post 2.12 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 74.50%.

About AT&T

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.