Etesian Wealth Advisors Inc. Cuts Stock Position in AT&T Inc. (NYSE:T)

Etesian Wealth Advisors Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 18.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 17,121 shares of the technology company’s stock after selling 3,815 shares during the period. Etesian Wealth Advisors Inc.’s holdings in AT&T were worth $390,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in T. AMF Tjanstepension AB grew its holdings in AT&T by 305.1% during 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 in the last quarter. Czech National Bank boosted its position in shares of AT&T by 6.9% during the third quarter. Czech National Bank now owns 1,460,655 shares of the technology company’s stock worth $32,134,000 after acquiring an additional 94,312 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in AT&T by 20.0% during the third quarter. Miracle Mile Advisors LLC now owns 42,148 shares of the technology company’s stock valued at $927,000 after acquiring an additional 7,021 shares in the last quarter. Axiom Advisory LLC increased its holdings in AT&T by 2.3% in the 3rd quarter. Axiom Advisory LLC now owns 90,724 shares of the technology company’s stock valued at $1,996,000 after acquiring an additional 2,036 shares during the last quarter. Finally, Brookstone Capital Management lifted its stake in AT&T by 0.9% in the 3rd quarter. Brookstone Capital Management now owns 793,140 shares of the technology company’s stock worth $17,449,000 after purchasing an additional 6,966 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Tigress Financial lifted their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Sanford C. Bernstein raised their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Wells Fargo & Company lowered their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Scotiabank boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

AT&T Stock Up 0.9 %

NYSE:T opened at $24.48 on Thursday. The company’s 50 day moving average is $22.99 and its two-hundred day moving average is $21.75. The company has a market cap of $175.63 billion, a PE ratio of 16.43, a P/E/G ratio of 2.71 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98. 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 issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts anticipate that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.53%. AT&T’s dividend payout ratio is currently 74.50%.

About AT&T

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.