AT&T Inc. (NYSE:T) Shares Sold by RDA Financial Network

RDA Financial Network decreased its holdings in AT&T Inc. (NYSE:T) by 14.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,713 shares of the technology company’s stock after selling 3,270 shares during the period. RDA Financial Network’s holdings in AT&T were worth $449,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the period. Altshuler Shaham Ltd acquired a new position in AT&T in the 2nd quarter valued at about $30,000. Reston Wealth Management LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of AT&T during the 3rd quarter worth approximately $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on T shares. 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 report on Wednesday, December 4th. Sanford C. Bernstein started coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday. Oppenheimer began coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Up 0.5 %

Shares of AT&T stock opened at $22.02 on Friday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The company has a 50 day moving average of $22.79 and a 200 day moving average of $21.28. 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 company has a market capitalization of $157.96 billion, a P/E ratio of 17.90, a P/E/G ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $30.50 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.04%. AT&T’s dividend payout ratio is presently 90.24%.

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.