AT&T Inc. (NYSE:T) Stock Position Reduced by Smith Moore & CO.

Smith Moore & CO. lessened its stake in AT&T Inc. (NYSE:T) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,644 shares of the technology company’s stock after selling 6,303 shares during the quarter. Smith Moore & CO.’s holdings in AT&T were worth $1,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in AT&T during the third quarter worth $25,000. Marshall Investment Management LLC bought a new stake in shares of AT&T during the 4th quarter worth about $28,000. YANKCOM Partnership acquired a new position in shares of AT&T during the 4th quarter valued at about $30,000. Tradewinds Capital Management LLC raised its stake in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in AT&T in the 4th quarter worth approximately $34,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Royal Bank of Canada increased their price target on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. 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 report on Wednesday, January 29th. Sanford C. Bernstein upped their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Scotiabank raised their price target on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Finally, UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.21.

AT&T Stock Down 6.8 %

Shares of T opened at $26.65 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $26.26 and a two-hundred day moving average price of $23.73. The stock has a market cap of $191.27 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $29.03.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s payout ratio 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.