Corrado Advisors LLC Has $2.18 Million Position in AT&T Inc. (NYSE:T)

Corrado Advisors LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 11.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 95,642 shares of the technology company’s stock after selling 11,777 shares during the quarter. AT&T comprises approximately 1.4% of Corrado Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Corrado Advisors LLC’s holdings in AT&T were worth $2,178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new position in shares of AT&T in the 3rd quarter worth about $25,000. Marshall Investment Management LLC bought a new position in shares of AT&T in the 4th quarter worth about $28,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of AT&T by 169.2% in the 3rd 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 in the last quarter. YANKCOM Partnership bought a new stake in AT&T in the 4th quarter valued at about $30,000. Finally, Tradewinds Capital Management LLC increased its position in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

AT&T stock opened at $26.60 on Thursday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.16. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The business’s 50 day simple moving average is $23.73 and its 200 day simple moving average is $22.46. The company has a market cap of $190.90 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.00 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.17%. AT&T’s payout ratio is 74.50%.

Analysts Set New Price Targets

A number of analysts recently commented on T shares. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Tigress Financial boosted their target price on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

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.