Advisors Management Group Inc. ADV Sells 379,695 Shares of AT&T Inc. (NYSE:T)

Advisors Management Group Inc. ADV reduced its stake in shares of AT&T Inc. (NYSE:T) by 95.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,051 shares of the technology company’s stock after selling 379,695 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in AT&T were worth $388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quest Partners LLC boosted its stake 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 last quarter. Perennial Investment Advisors LLC boosted its stake in AT&T by 5.4% in the second quarter. Perennial Investment Advisors LLC now owns 32,659 shares of the technology company’s stock valued at $624,000 after acquiring an additional 1,662 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in AT&T by 3.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 1,059,057 shares of the technology company’s stock worth $20,239,000 after acquiring an additional 39,684 shares during the period. Bradley Foster & Sargent Inc. CT raised its position in shares of AT&T by 1.9% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 31,101 shares of the technology company’s stock valued at $594,000 after acquiring an additional 570 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.5 %

Shares of T stock opened at $21.90 on Thursday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The stock has a market cap of $157.14 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 3.46 and a beta of 0.59. The firm’s 50-day moving average is $22.80 and its 200-day moving average is $21.28. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is 90.24%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Sanford C. Bernstein began coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Evercore ISI upped their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Oppenheimer began coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.76.

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.