Hartford Financial Management Inc. Decreases Stock Position in AT&T Inc. (NYSE:T)

Hartford Financial Management Inc. decreased its position in AT&T Inc. (NYSE:T) by 15.9% in the 4th quarter, Holdings Channel reports. The fund owned 6,057 shares of the technology company’s stock after selling 1,148 shares during the period. Hartford Financial Management Inc.’s holdings in AT&T were worth $138,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in T. International Assets Investment Management LLC acquired a new position in shares of AT&T in the 4th quarter valued at approximately $14,700,000. Swiss National Bank raised its holdings in 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 acquiring an additional 104,700 shares in the last quarter. Franklin Resources Inc. boosted its stake in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. Caprock Group LLC grew its holdings in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after acquiring an additional 30,281 shares in the last quarter. Finally, Talbot Financial LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $7,438,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on T. The Goldman Sachs Group upped their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $28.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T Trading Down 0.8 %

Shares of AT&T stock opened at $24.04 on Friday. The business has a fifty day simple moving average of $22.89 and a 200-day simple moving average of $21.57. The firm has a market cap of $172.46 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.98. The company has a quick ratio of 0.67, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, equities analysts forecast that AT&T Inc. will post 2.12 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 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.