AT&T Inc. (NYSE:T) Shares Sold by Traphagen Investment Advisors LLC

Traphagen Investment Advisors LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,871 shares of the technology company’s stock after selling 1,659 shares during the quarter. Traphagen Investment Advisors LLC’s holdings in AT&T were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

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

AT&T Stock Performance

AT&T stock opened at $22.49 on Wednesday. The stock has a market cap of $161.40 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $22.79 and a 200-day simple moving average of $21.37. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. On average, analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.93%. AT&T’s payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on T. Citigroup raised 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. Oppenheimer began coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. Finally, Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.83.

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.