Modera Wealth Management LLC Sells 2,793 Shares of AT&T Inc. (NYSE:T)

Modera Wealth Management LLC cut its stake in AT&T Inc. (NYSE:T) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,082 shares of the technology company’s stock after selling 2,793 shares during the period. Modera Wealth Management LLC’s holdings in AT&T were worth $1,231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of AT&T during the fourth quarter valued at $14,700,000. Swiss National Bank increased its position in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares in the last quarter. Franklin Resources Inc. lifted its holdings 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 purchasing an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp boosted its position in AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after buying an additional 21,927 shares in the last quarter. Finally, Caprock Group LLC boosted its position in AT&T by 18.3% in 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 in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.0 %

NYSE T opened at $27.69 on Tuesday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.86. The stock has a 50-day simple moving average of $24.01 and a 200 day simple moving average of $22.64. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $198.76 billion, a PE ratio of 18.58, a P/E/G ratio of 3.00 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating 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%. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.01%. AT&T’s dividend payout ratio is 74.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 29th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, UBS Group lifted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $26.45.

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.