Princeton Global Asset Management LLC Reduces Position in AT&T Inc. (NYSE:T)

Princeton Global Asset Management LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,710 shares of the technology company’s stock after selling 1,173 shares during the period. Princeton Global Asset Management LLC’s holdings in AT&T were worth $380,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in T. Legacy Investment Solutions LLC purchased a new position in AT&T in the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the period. Endeavor Private Wealth Inc. bought a new position in shares of AT&T during the 4th quarter valued at approximately $34,000. Reston Wealth Management LLC purchased a new stake in AT&T in the 3rd quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in AT&T during the 3rd quarter worth approximately $35,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on T. Evercore ISI raised 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. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. The Goldman Sachs Group lifted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. upped their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.11.

AT&T Trading Up 2.2 %

Shares of T opened at $24.26 on Tuesday. The company’s fifty day simple moving average is $22.92 and its 200-day simple moving average is $21.66. The company has a market cap of $174.04 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.71 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98.

AT&T (NYSE:T) last posted 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 net margin of 8.95% and a return on equity of 13.97%. As a group, analysts expect that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The firm 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 dividend yield of 4.58%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is currently 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.