Evanson Asset Management LLC Sells 1,995 Shares of AT&T Inc. (NYSE:T)

Evanson Asset Management LLC trimmed its stake in AT&T Inc. (NYSE:T) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,576 shares of the technology company’s stock after selling 1,995 shares during the quarter. Evanson Asset Management LLC’s holdings in AT&T were worth $309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Davidson Kempner Capital Management LP bought a new position in shares of AT&T in the 2nd quarter worth $23,888,000. International Assets Investment Management LLC acquired a new position in AT&T during the fourth quarter worth $14,700,000. Swiss National Bank lifted its stake in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after buying an additional 30,281 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $22.00 to $26.00 in a report on Monday, January 6th. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Evercore ISI increased their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Tigress Financial lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.83.

AT&T Trading Up 1.2 %

Shares of T opened at $22.30 on Tuesday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The stock has a market cap of $159.97 billion, a PE ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The business’s 50-day moving average price is $22.79 and its 200-day moving average price is $21.35.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for 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 revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. On average, equities analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. 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.