tru Independence LLC Decreases Stake in AT&T Inc. (NYSE:T)

tru Independence LLC cut its holdings in AT&T Inc. (NYSE:T) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 255,237 shares of the technology company’s stock after selling 11,617 shares during the period. AT&T accounts for 1.8% of tru Independence LLC’s investment portfolio, making the stock its 18th biggest position. tru Independence LLC’s holdings in AT&T were worth $5,812,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in T. Legacy Investment Solutions LLC purchased a new position in AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new stake in AT&T in the fourth quarter worth approximately $34,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at $35,000. Finally, Reston Wealth Management LLC purchased a new stake in AT&T during the third quarter valued at about $35,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

T has been the subject of a number of analyst reports. Citigroup increased their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. UBS Group increased their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Argus 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 report on Thursday, January 16th. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Stock Up 5.4 %

T stock opened at $23.95 on Monday. The business’s 50-day moving average is $22.80 and its two-hundred day moving average is $21.48. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market cap of $171.85 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 3.50 and a beta of 0.59.

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 the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. As a group, analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

About AT&T

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.