Davis R M Inc. Sells 3,026 Shares of AT&T Inc. (NYSE:T)

Davis R M Inc. lowered its position in AT&T Inc. (NYSE:T) by 8.3% in the 4th quarter, Holdings Channel reports. The firm owned 33,390 shares of the technology company’s stock after selling 3,026 shares during the quarter. Davis R M Inc.’s holdings in AT&T were worth $760,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of T. Assetmark Inc. boosted its holdings in AT&T by 62.0% during the 3rd quarter. Assetmark Inc. now owns 194,924 shares of the technology company’s stock valued at $4,288,000 after acquiring an additional 74,607 shares during the period. Baker Avenue Asset Management LP bought a new stake in shares of AT&T during the third quarter worth $261,000. Ashton Thomas Securities LLC purchased a new stake in shares of AT&T during the third quarter valued at $812,000. Patten & Patten Inc. TN grew its holdings in shares of AT&T by 9.2% in the third quarter. Patten & Patten Inc. TN now owns 17,820 shares of the technology company’s stock worth $392,000 after purchasing an additional 1,505 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in AT&T by 35.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 15,038 shares of the technology company’s stock worth $331,000 after buying an additional 3,948 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $26.02 on Wednesday. The company has a market capitalization of $186.74 billion, a P/E ratio of 17.46, a P/E/G ratio of 3.00 and a beta of 0.56. The business’s 50-day moving average is $24.46 and its two-hundred day moving average is $22.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.97.

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%. Research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.27%. AT&T’s dividend payout ratio is currently 74.50%.

Wall Street Analyst Weigh In

Several research firms have issued reports on T. Scotiabank boosted their price objective on shares of AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. UBS Group increased their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Tigress Financial lifted their price objective on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.74.

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.