Smith Moore & CO. Sells 6,303 Shares of AT&T Inc. (NYSE:T)

Smith Moore & CO. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 8.2% in the fourth quarter, HoldingsChannel reports. The firm owned 70,644 shares of the technology company’s stock after selling 6,303 shares during the period. Smith Moore & CO.’s holdings in AT&T were worth $1,609,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of T. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $25,000. Marshall Investment Management LLC bought a new position in AT&T in the 4th quarter valued at $28,000. YANKCOM Partnership acquired a new stake in shares of AT&T in the 4th quarter valued at $30,000. Tradewinds Capital Management LLC raised its position in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of AT&T during the fourth quarter valued at $34,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $26.65 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market cap of $191.27 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a one year low of $15.94 and a one year high of $29.03. The stock’s 50-day moving average is $26.26 and its 200-day moving average is $23.73.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.17%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 29th. UBS Group increased 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. Royal Bank of Canada lifted their price objective on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, January 16th. Finally, Tigress Financial raised their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $27.21.

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.