Meyer Handelman Co. Has $1.18 Million Stake in AT&T Inc. (NYSE:T)

Meyer Handelman Co. trimmed its position in AT&T Inc. (NYSE:T) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,852 shares of the technology company’s stock after selling 10,406 shares during the quarter. Meyer Handelman Co.’s holdings in AT&T were worth $1,181,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in T. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. Safe Harbor Fiduciary LLC acquired a new stake in shares of AT&T during the 3rd quarter worth $35,000. Reston Wealth Management LLC bought a new position in shares of AT&T in the third quarter worth $35,000. Finally, Altshuler Shaham Ltd acquired a new position in AT&T in the second quarter valued at about $30,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of a number of analyst reports. Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein assumed 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. The Goldman Sachs Group upped their price objective 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 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, Tigress Financial boosted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $25.76.

AT&T Stock Up 1.1 %

Shares of NYSE:T opened at $21.80 on Wednesday. The business has a fifty day simple moving average of $22.80 and a 200 day simple moving average of $21.28. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The firm has a market cap of $156.42 billion, a P/E ratio of 17.72, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. Analysts predict that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

AT&T Company 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.