AT&T Inc. (NYSE:T) Shares Sold by Alta Capital Management LLC

Alta Capital Management LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 187,981 shares of the technology company’s stock after selling 20,834 shares during the quarter. Alta Capital Management LLC’s holdings in AT&T were worth $4,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in shares of AT&T by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 53,057,676 shares of the technology company’s stock worth $1,208,123,000 after purchasing an additional 414,984 shares during the period. Steward Partners Investment Advisory LLC increased its position in AT&T by 19.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,163,337 shares of the technology company’s stock valued at $26,489,000 after acquiring an additional 193,406 shares during the period. Unified Investment Management acquired a new stake in AT&T in the 4th quarter valued at approximately $864,000. Wernau Asset Management Inc. acquired a new stake in AT&T in the 4th quarter valued at approximately $2,853,000. Finally, Meridian Wealth Management LLC increased its position in AT&T by 1.7% in the 4th quarter. Meridian Wealth Management LLC now owns 60,044 shares of the technology company’s stock valued at $1,367,000 after acquiring an additional 1,010 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays raised their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Royal Bank of Canada raised their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.45.

AT&T Stock Performance

T opened at $27.69 on Tuesday. The firm has a market cap of $198.76 billion, a PE ratio of 18.58, a P/E/G ratio of 3.00 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The business has a fifty day simple moving average of $24.01 and a 200-day simple moving average of $22.64. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.86.

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, beating 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%. As a group, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.01%. 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.