Elwood & Goetz Wealth Advisory Group LLC Sells 3,684 Shares of AT&T Inc. (NYSE:T)

Elwood & Goetz Wealth Advisory Group LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,107 shares of the technology company’s stock after selling 3,684 shares during the quarter. Elwood & Goetz Wealth Advisory Group LLC’s holdings in AT&T were worth $526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB increased its position in AT&T by 305.1% during the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after acquiring an additional 1,161,152 shares during the last quarter. Assenagon Asset Management S.A. increased its position in AT&T by 1.3% during the third quarter. Assenagon Asset Management S.A. now owns 310,190 shares of the technology company’s stock valued at $6,824,000 after acquiring an additional 3,972 shares during the last quarter. Global Trust Asset Management LLC increased its position in AT&T by 28.1% during the third quarter. Global Trust Asset Management LLC now owns 3,900 shares of the technology company’s stock valued at $86,000 after acquiring an additional 855 shares during the last quarter. West Michigan Advisors LLC purchased a new stake in AT&T during the third quarter valued at $249,000. Finally, Ballentine Partners LLC increased its position in AT&T by 4.5% during the third quarter. Ballentine Partners LLC now owns 82,556 shares of the technology company’s stock valued at $1,816,000 after acquiring an additional 3,586 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on T shares. The Goldman Sachs Group upped their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research report on Thursday, February 13th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. Finally, Royal Bank of Canada upped their price target on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

AT&T Stock Performance

NYSE T opened at $26.64 on Friday. The firm has a market cap of $191.19 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. 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 business has a 50-day moving average price of $23.50 and a 200-day moving average price of $22.30. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $26.72.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared 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. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is presently 74.50%.

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.