Cullinan Associates Inc. Decreases Stake in AT&T Inc. (NYSE:T)

Cullinan Associates Inc. lessened its stake in AT&T Inc. (NYSE:T) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,855 shares of the technology company’s stock after selling 3,200 shares during the quarter. Cullinan Associates Inc.’s holdings in AT&T were worth $657,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new position in AT&T during the third quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. Endeavor Private Wealth Inc. acquired a new position in AT&T during the fourth quarter worth approximately $34,000. Reston Wealth Management LLC acquired a new position in AT&T during the third quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in AT&T during the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.0 %

AT&T stock opened at $24.26 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a market capitalization of $174.05 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 2.71 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 $24.98. The stock’s fifty day moving average is $22.94 and its two-hundred day moving average is $21.70.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. Analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is 74.50%.

Analyst Ratings Changes

Several research analysts have commented on T shares. The Goldman Sachs Group lifted their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Citigroup boosted their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $26.21.

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.