United Asset Strategies Inc. Has $250,000 Stock Position in AT&T Inc. (NYSE:T)

United Asset Strategies Inc. cut its holdings in AT&T Inc. (NYSE:T) by 16.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,971 shares of the technology company’s stock after selling 2,152 shares during the quarter. United Asset Strategies Inc.’s holdings in AT&T were worth $250,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV boosted its holdings in AT&T by 7.9% in the fourth quarter. KBC Group NV now owns 1,455,824 shares of the technology company’s stock worth $33,149,000 after acquiring an additional 106,367 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of AT&T in the 4th quarter worth $1,639,000. Apexium Financial LP grew its position in AT&T by 4.0% in the 4th quarter. Apexium Financial LP now owns 68,198 shares of the technology company’s stock valued at $1,553,000 after purchasing an additional 2,630 shares during the period. Capital Asset Advisory Services LLC increased its stake in AT&T by 2.2% during the 4th quarter. Capital Asset Advisory Services LLC now owns 130,022 shares of the technology company’s stock valued at $2,948,000 after purchasing an additional 2,768 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in AT&T by 38.7% during the fourth quarter. Blue Trust Inc. now owns 116,130 shares of the technology company’s stock worth $2,555,000 after buying an additional 32,394 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $22.00 to $26.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Performance

NYSE T opened at $24.12 on Tuesday. The company’s 50 day moving average is $22.80 and its 200-day moving average is $21.48. The firm has a market cap of $173.05 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.37. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued 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 7.42% and a return on equity of 13.97%. Sell-side analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.60%. AT&T’s dividend payout ratio 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.