New Wave Wealth Advisors LLC Cuts Stock Holdings in AT&T Inc. (NYSE:T)

New Wave Wealth Advisors LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 3.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,890 shares of the technology company’s stock after selling 1,418 shares during the period. New Wave Wealth Advisors LLC’s holdings in AT&T were worth $886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of AT&T during the fourth quarter valued at approximately $14,700,000. Swiss National Bank increased its position in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares in the last quarter. Franklin Resources Inc. raised its stake in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Caprock Group LLC lifted its holdings in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares in the last quarter. Finally, Talbot Financial LLC acquired a new stake in AT&T during the 3rd quarter worth $7,438,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on T. Sanford C. Bernstein increased their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup lifted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised their price target on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $28.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T Trading Down 0.8 %

Shares of AT&T stock opened at $24.04 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $172.46 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98. The company’s 50-day simple moving average is $22.91 and its 200-day simple moving average is $21.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities research analysts anticipate that AT&T Inc. will post 2.12 earnings per share for the current year.

AT&T Dividend Announcement

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

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.