Institute for Wealth Management LLC. Has $954,000 Stock Position in AT&T Inc. (NYSE:T)

Institute for Wealth Management LLC. trimmed its position in AT&T Inc. (NYSE:T) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,903 shares of the technology company’s stock after selling 908 shares during the quarter. Institute for Wealth Management LLC.’s holdings in AT&T were worth $954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares during the period. FMR LLC boosted its holdings in shares of AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the period. Swiss National Bank boosted its holdings in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of AT&T by 7.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after purchasing an additional 1,206,330 shares during the period. Finally, National Pension Service boosted its holdings in shares of AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after purchasing an additional 2,152,016 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

T has been the subject of several research reports. The Goldman Sachs Group raised their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Scotiabank raised their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $26.11.

AT&T Trading Down 1.2 %

NYSE:T opened at $23.74 on Friday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The firm has a market cap of $170.34 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 2.81 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $22.91 and its 200-day moving average is $21.59.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) 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%. Equities analysts anticipate that AT&T Inc. will post 2.12 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) 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.