Forsta AP Fonden Sells 24,500 Shares of AT&T Inc. (NYSE:T)

Forsta AP Fonden lessened its holdings in shares of AT&T Inc. (NYSE:T) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,133,300 shares of the technology company’s stock after selling 24,500 shares during the period. Forsta AP Fonden’s holdings in AT&T were worth $48,575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new position in AT&T during the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position in AT&T by 169.2% during 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 purchasing an additional 841 shares during the period. Endeavor Private Wealth Inc. bought a new position in shares of AT&T in the 4th quarter valued at about $34,000. Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T during the third quarter worth approximately $35,000. Finally, Reston Wealth Management LLC acquired a new position in AT&T in the third quarter valued at approximately $35,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of several recent research reports. The Goldman Sachs Group upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. UBS Group raised their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday. Finally, Barclays lifted their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T Stock Up 1.2 %

AT&T stock opened at $24.43 on Wednesday. The company has a fifty day simple moving average of $22.86 and a 200 day simple moving average of $21.55. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.58. The company has a market cap of $175.26 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. Research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared 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. This represents a $1.11 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.