Northern Financial Advisors Inc Sells 1,309 Shares of AT&T Inc. (NYSE:T)

Northern Financial Advisors Inc trimmed its stake in shares of AT&T Inc. (NYSE:T) by 3.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 33,432 shares of the technology company’s stock after selling 1,309 shares during the quarter. Northern Financial Advisors Inc’s holdings in AT&T were worth $761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in T. AMF Tjanstepension AB lifted its position in shares of AT&T by 305.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock worth $33,918,000 after purchasing an additional 1,161,152 shares during the period. Creative Planning raised its stake in AT&T by 2.8% during the third quarter. Creative Planning now owns 1,564,777 shares of the technology company’s stock worth $34,413,000 after buying an additional 43,218 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in AT&T in the third quarter valued at $262,000. Opal Wealth Advisors LLC boosted its position in AT&T by 53.9% during the third quarter. Opal Wealth Advisors LLC now owns 11,294 shares of the technology company’s stock valued at $248,000 after acquiring an additional 3,955 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its position in AT&T by 2.8% during the third quarter. Sumitomo Life Insurance Co. now owns 54,411 shares of the technology company’s stock valued at $1,197,000 after acquiring an additional 1,466 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 1.0 %

T stock opened at $25.63 on Friday. The firm has a market capitalization of $183.87 billion, a PE ratio of 17.20, a P/E/G ratio of 2.79 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 twelve month low of $15.94 and a twelve month high of $25.74. The stock’s 50 day moving average is $23.15 and its 200-day moving average is $21.96.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Sell-side analysts expect that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is 74.50%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. UBS Group boosted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Tigress Financial raised their price target on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

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.