Oppenheimer Asset Management Inc. Cuts Stake in AT&T Inc. (NYSE:T)

Oppenheimer Asset Management Inc. reduced its stake in shares of AT&T Inc. (NYSE:T) by 0.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,632,090 shares of the technology company’s stock after selling 2,787 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AT&T were worth $37,163,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of T. Tradewinds Capital Management LLC raised its holdings in AT&T by 48.6% in the fourth 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 during the period. Wealthstream Advisors Inc. raised its holdings in AT&T by 3.7% in the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after buying an additional 444 shares during the period. Northeast Investment Management raised its holdings in AT&T by 0.9% in the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after buying an additional 451 shares during the period. Chesapeake Wealth Management raised its holdings in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares during the period. Finally, Luts & Greenleigh Group Inc. raised its holdings in AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on T. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research report on Thursday, February 13th. The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Price Performance

Shares of NYSE T opened at $26.60 on Thursday. The firm’s 50-day simple moving average is $23.73 and its 200 day simple moving average is $22.46. The stock has a market cap of $190.90 billion, a P/E ratio of 17.85, a P/E/G ratio of 3.00 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.16. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released 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 return on equity of 13.97% and a net margin of 8.95%. Equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

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.