AT&T Inc. (NYSE:T) Shares Sold by Benin Management CORP

Benin Management CORP cut its stake in shares of AT&T Inc. (NYSE:T) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 22,958 shares of the technology company’s stock after selling 700 shares during the period. Benin Management CORP’s holdings in AT&T were worth $523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in AT&T during the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of AT&T by 169.2% in 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 buying an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new position in shares of AT&T in the fourth quarter worth about $34,000. Reston Wealth Management LLC acquired a new position in AT&T during the third quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in AT&T during the 3rd quarter valued at about $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the topic of several recent research reports. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Evercore ISI upped their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Tigress Financial upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Price Performance

T stock opened at $22.69 on Friday. The business’s fifty day moving average price is $22.80 and its 200 day moving average price is $21.41. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a market capitalization of $162.77 billion, a PE ratio of 18.44, a P/E/G 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 issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

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 given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.89%. AT&T’s dividend payout ratio is presently 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.