Sound View Wealth Advisors Group LLC Sells 2,746 Shares of AT&T Inc. (NYSE:T)

Sound View Wealth Advisors Group LLC lessened its position in AT&T Inc. (NYSE:T) by 9.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,199 shares of the technology company’s stock after selling 2,746 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in AT&T were worth $597,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in T. International Assets Investment Management LLC bought a new stake in AT&T in the 4th quarter worth about $14,700,000. Swiss National Bank boosted its holdings in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares during the period. Consolidated Planning Corp raised its holdings in shares of AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Finally, Caprock Group LLC raised its holdings in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on T shares. Citigroup lifted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Tigress Financial lifted their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Scotiabank upped their price objective on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. Finally, Royal Bank of Canada upped their price target 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, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $26.74.

AT&T Stock Performance

NYSE T opened at $27.15 on Monday. 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 Inc. has a twelve month low of $15.94 and a twelve month high of $27.97. The business has a 50-day moving average price of $24.30 and a 200-day moving average price of $22.84. The firm has a market cap of $194.85 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 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%. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.09%. AT&T’s payout ratio is 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.