Hennessy Advisors Inc. Sells 11,000 Shares of AT&T Inc. (NYSE:T)

Hennessy Advisors Inc. lowered its stake in shares of AT&T Inc. (NYSE:T) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 304,160 shares of the technology company’s stock after selling 11,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in AT&T were worth $6,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new stake in AT&T in the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the period. Altshuler Shaham Ltd bought a new stake in AT&T in the 2nd quarter valued at $30,000. Reston Wealth Management LLC bought a new stake in AT&T in the 3rd quarter valued at $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in AT&T in the 3rd quarter valued at $35,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Barclays boosted their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. 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. Finally, Sanford C. Bernstein initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Price Performance

Shares of T opened at $22.02 on Friday. The stock has a market capitalization of $157.96 billion, a P/E ratio of 17.90, a P/E/G ratio of 3.46 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a 50 day moving average of $22.79 and a 200-day moving average of $21.28. 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 quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal 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 issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is presently 90.24%.

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.