Money Concepts Capital Corp Trims Stock Position in AT&T Inc. (NYSE:T)

Money Concepts Capital Corp decreased its position in shares of AT&T Inc. (NYSE:T) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 169,236 shares of the technology company’s stock after selling 3,398 shares during the quarter. Money Concepts Capital Corp’s holdings in AT&T were worth $3,853,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in T. International Assets Investment Management LLC acquired a new position in AT&T in the fourth quarter valued at $14,700,000. Swiss National Bank grew its holdings in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares during the last quarter. Franklin Resources Inc. increased its position in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the period. Caprock Group LLC raised its stake in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares during the last quarter. Finally, Talbot Financial LLC purchased a new stake in AT&T during the 3rd quarter valued at approximately $7,438,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. 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. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. UBS Group upped their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays lifted their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.21.

AT&T Price Performance

AT&T stock opened at $24.26 on Wednesday. The firm has a market capitalization of $174.05 billion, a PE ratio of 16.28, a P/E/G ratio of 2.71 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98. The firm’s 50-day simple moving average is $22.97 and its 200 day simple moving average is $21.73. 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 announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, equities research analysts predict that AT&T Inc. will post 2.15 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. Shareholders 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 4.58%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 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.