United Asset Strategies Inc. Sells 2,152 Shares of AT&T Inc. (NYSE:T)

United Asset Strategies Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,971 shares of the technology company’s stock after selling 2,152 shares during the quarter. United Asset Strategies Inc.’s holdings in AT&T were worth $250,000 as of its most recent SEC filing.

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

AT&T Stock Up 6.2 %

Shares of NYSE T opened at $24.12 on Tuesday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.37. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market cap of $173.05 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a 50 day simple moving average of $22.80 and a 200 day simple moving average of $21.48.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, research analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.60%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Wall Street Analyst Weigh In

T has been the subject of several recent research reports. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group raised their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Citigroup upped their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Argus raised 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 Thursday, January 16th. One investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.