Brave Asset Management Inc. Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Brave Asset Management Inc. lowered its stake in AT&T Inc. (NYSE:T) by 15.9% during the 4th quarter, HoldingsChannel reports. The firm owned 20,693 shares of the technology company’s stock after selling 3,900 shares during the period. Brave Asset Management Inc.’s holdings in AT&T were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in shares of AT&T by 5,378.3% in the second quarter. Quest Partners LLC now owns 3,780 shares of the technology company’s stock worth $72,000 after buying an additional 3,711 shares during the last quarter. Perennial Investment Advisors LLC grew its position in shares of AT&T by 5.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 32,659 shares of the technology company’s stock valued at $624,000 after acquiring an additional 1,662 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of AT&T by 3.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 1,059,057 shares of the technology company’s stock worth $20,239,000 after purchasing an additional 39,684 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in AT&T by 1.9% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 31,101 shares of the technology company’s stock worth $594,000 after purchasing an additional 570 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.5 %

Shares of T opened at $21.90 on Thursday. The business’s 50 day simple moving average is $22.80 and its 200-day simple moving average is $21.28. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a market capitalization of $157.14 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. AT&T’s revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.07%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of a number of analyst reports. Sanford C. Bernstein started coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Barclays raised their target price 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. UBS Group upped their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Citigroup raised their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have given 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 $25.76.

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.