Bartlett & CO. Wealth Management LLC Sells 2,216 Shares of AT&T Inc. (NYSE:T)

Bartlett & CO. Wealth Management LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 108,385 shares of the technology company’s stock after selling 2,216 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in AT&T were worth $2,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Thrivent Financial for Lutherans raised its stake in AT&T by 4.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 475,114 shares of the technology company’s stock valued at $9,080,000 after purchasing an additional 21,233 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AT&T during the second quarter valued at about $44,000. AQR Capital Management LLC lifted its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the period. APG Asset Management N.V. grew its position in AT&T by 6.8% during the second quarter. APG Asset Management N.V. now owns 4,621,726 shares of the technology company’s stock worth $82,408,000 after buying an additional 294,388 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on T shares. JPMorgan Chase & Co. lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Sanford C. Bernstein initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $22.00 to $26.00 in a research report on Monday, January 6th. Finally, Barclays raised their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Stock Up 0.9 %

Shares of NYSE T opened at $22.51 on Friday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market cap of $161.54 billion, a P/E ratio of 18.30, a P/E/G ratio of 3.53 and a beta of 0.59. The firm has a 50 day moving average price of $22.80 and a 200 day moving average price of $21.40.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

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

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.