Franklin Street Advisors Inc. NC Sells 500 Shares of AT&T Inc. (NYSE:T)

Franklin Street Advisors Inc. NC cut its holdings in AT&T Inc. (NYSE:T) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,797 shares of the technology company’s stock after selling 500 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in AT&T were worth $587,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of T. Strategic Financial Concepts LLC grew its holdings in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Quest Partners LLC grew its position in shares of AT&T by 5,378.3% in the 2nd quarter. Quest Partners LLC now owns 3,780 shares of the technology company’s stock valued at $72,000 after purchasing an additional 3,711 shares during the period. MGO One Seven LLC raised its holdings in AT&T by 1.6% during the 2nd quarter. MGO One Seven LLC now owns 122,826 shares of the technology company’s stock worth $2,347,000 after buying an additional 1,936 shares during the period. LPL Financial LLC lifted its stake in AT&T by 0.7% in the second quarter. LPL Financial LLC now owns 8,924,668 shares of the technology company’s stock valued at $170,550,000 after buying an additional 61,850 shares in the last quarter. Finally, Campbell Wealth Management boosted its holdings in shares of AT&T by 15.5% in the second quarter. Campbell Wealth Management now owns 14,681 shares of the technology company’s stock valued at $281,000 after buying an additional 1,971 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on T. Sanford C. Bernstein assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T Price Performance

AT&T stock traded down $0.20 during mid-day trading on Friday, reaching $21.70. The company had a trading volume of 14,943,401 shares, compared to its average volume of 28,970,063. The business has a fifty day simple moving average of $22.82 and a 200 day simple moving average of $21.18. The company has a market cap of $155.70 billion, a P/E ratio of 17.64, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

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.