AT&T Inc. (NYSE:T) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New decreased its holdings in AT&T Inc. (NYSE:T) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,350 shares of the technology company’s stock after selling 506 shares during the period. Cigna Investments Inc. New’s holdings in AT&T were worth $1,670,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. AMF Tjanstepension AB boosted its position in AT&T by 305.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after buying an additional 1,161,152 shares during the period. Ritholtz Wealth Management raised its holdings in shares of AT&T by 33.7% in the 3rd quarter. Ritholtz Wealth Management now owns 85,944 shares of the technology company’s stock valued at $1,891,000 after purchasing an additional 21,652 shares in the last quarter. Mechanics Bank Trust Department acquired a new stake in shares of AT&T in the 3rd quarter valued at $210,000. Annex Advisory Services LLC raised its holdings in shares of AT&T by 10.7% in the 3rd quarter. Annex Advisory Services LLC now owns 16,053 shares of the technology company’s stock valued at $353,000 after purchasing an additional 1,557 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its holdings in shares of AT&T by 21.2% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 30,358 shares of the technology company’s stock valued at $668,000 after purchasing an additional 5,320 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 1.3 %

T stock opened at $24.86 on Tuesday. The company has a market cap of $178.38 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.79 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 moving average price is $23.04 and its 200 day moving average price is $21.86. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced its 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%. On average, research analysts expect that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is currently 74.50%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on T. Sanford C. Bernstein lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. 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 research note on Thursday, October 24th. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

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.