Traphagen Investment Advisors LLC Sells 1,659 Shares of AT&T Inc. (NYSE:T)

Traphagen Investment Advisors LLC cut its holdings in AT&T Inc. (NYSE:T) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,871 shares of the technology company’s stock after selling 1,659 shares during the period. Traphagen Investment Advisors LLC’s holdings in AT&T were worth $566,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Thrivent Financial for Lutherans lifted its stake in shares of 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 buying an additional 21,233 shares in the last quarter. ProShare Advisors LLC raised its holdings in AT&T by 8.4% during the second quarter. ProShare Advisors LLC now owns 1,008,133 shares of the technology company’s stock valued at $19,265,000 after acquiring an additional 77,932 shares during the period. Gabelli Funds LLC lifted its position in shares of AT&T by 5.4% in the second quarter. Gabelli Funds LLC now owns 350,900 shares of the technology company’s stock valued at $6,706,000 after acquiring an additional 18,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of AT&T by 55.8% in the second quarter. EverSource Wealth Advisors LLC now owns 26,376 shares of the technology company’s stock worth $508,000 after acquiring an additional 9,446 shares during the period. Finally, Certified Advisory Corp grew its position in shares of AT&T by 1.9% during the second quarter. Certified Advisory Corp now owns 29,367 shares of the technology company’s stock worth $561,000 after purchasing an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.9 %

T opened at $22.49 on Wednesday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The stock has a fifty day moving average price of $22.79 and a 200-day moving average price of $21.37. The firm has a market cap of $161.40 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.50 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm 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%. During the same quarter in the previous year, the business posted $0.64 EPS. AT&T’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on T. Oppenheimer started coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Tigress Financial lifted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, UBS Group increased their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Company 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.