Sonora Investment Management Group LLC Sells 8,166 Shares of AT&T Inc. (NYSE:T)

Sonora Investment Management Group LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,217 shares of the technology company’s stock after selling 8,166 shares during the period. Sonora Investment Management Group LLC’s holdings in AT&T were worth $3,944,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE raised its position 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 acquiring an additional 841 shares during the period. Endeavor Private Wealth Inc. purchased a new position in AT&T in the fourth quarter valued at about $34,000. Reston Wealth Management LLC bought a new position in shares of AT&T during the 3rd quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T during the 3rd quarter worth approximately $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on T shares. Royal Bank of Canada increased their price objective on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday. The Goldman Sachs Group lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, January 16th. 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 note on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.11.

AT&T Price Performance

Shares of AT&T stock opened at $24.04 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.67. AT&T Inc. has a one year low of $15.94 and a one year high of $24.98. The stock has a market capitalization of $172.46 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59. The business’s 50 day simple moving average is $22.89 and its two-hundred day simple moving average is $21.57.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. Analysts forecast that AT&T Inc. will post 2.12 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 74.50%.

AT&T 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.