AT&T Inc. (NYSE:T) Shares Sold by Archer Investment Corp

Archer Investment Corp cut its position in shares of AT&T Inc. (NYSE:T) by 38.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,938 shares of the technology company’s stock after selling 3,089 shares during the period. Archer Investment Corp’s holdings in AT&T were worth $112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC purchased a new position in shares of AT&T in the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the last quarter. YANKCOM Partnership purchased a new position in AT&T in the fourth quarter valued at approximately $30,000. Endeavor Private Wealth Inc. purchased a new position in shares of AT&T in the 4th quarter valued at $34,000. Finally, Reston Wealth Management LLC acquired a new stake in AT&T during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on T shares. Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 29th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, The Goldman Sachs Group upped their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

AT&T Price Performance

Shares of T opened at $24.46 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market cap of $175.47 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 2.71 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98. The stock has a 50 day moving average of $22.99 and a 200-day moving average of $21.75.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, analysts forecast that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.54%. AT&T’s dividend payout ratio is presently 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.