Archer Investment Corp Has $112,000 Stake in AT&T Inc. (NYSE:T)

Archer Investment Corp decreased its stake in shares of AT&T Inc. (NYSE:T) by 38.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,938 shares of the technology company’s stock after selling 3,089 shares during the period. Archer Investment Corp’s holdings in AT&T were worth $112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of AT&T by 2.3% during 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 during the period. Franklin Resources Inc. raised its stake in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. National Pension Service lifted its position in AT&T by 15.8% in the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after purchasing an additional 2,152,016 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in AT&T by 112.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock worth $64,167,000 after buying an additional 1,546,679 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in 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 buying an additional 1,206,330 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on T. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, January 16th. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Finally, Citigroup boosted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

AT&T Trading Down 0.1 %

Shares of NYSE:T opened at $24.46 on Friday. The stock has a market cap of $175.47 billion, a PE ratio of 16.41, a P/E/G ratio of 2.71 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.98. The business has a 50 day moving average of $22.99 and a 200-day moving average of $21.75.

AT&T (NYSE:T) last announced its 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%. As a group, equities research analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

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.