Synergy Asset Management LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Synergy Asset Management LLC lessened its stake in AT&T Inc. (NYSE:T) by 85.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,103 shares of the technology company’s stock after selling 92,412 shares during the period. Synergy Asset Management LLC’s holdings in AT&T were worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. Franklin Resources Inc. boosted its holdings in AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares in the last quarter. National Pension Service grew its stake in shares of AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after acquiring an additional 2,152,016 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of AT&T by 112.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after purchasing an additional 1,546,679 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of AT&T by 7.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock valued at $378,807,000 after purchasing an additional 1,206,330 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.8 %

Shares of T opened at $24.04 on Friday. The firm has a market cap of $172.46 billion, a P/E ratio of 16.13, a PEG ratio of 2.81 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The stock’s 50 day moving average is $22.89 and its two-hundred day moving average is $21.57. The company has a current ratio of 0.66, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Analysts predict that AT&T Inc. will post 2.12 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 yield of 4.62%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on T shares. Sanford C. Bernstein raised their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Evercore ISI raised their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Scotiabank upped their target price on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.11.

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.