Platform Technology Partners Reduces Stock Position in AT&T Inc. (NYSE:T)

Platform Technology Partners lessened its holdings in AT&T Inc. (NYSE:T) by 4.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,710 shares of the technology company’s stock after selling 729 shares during the quarter. Platform Technology Partners’ holdings in AT&T were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Chesapeake Wealth Management grew its stake in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. grew its position in shares of AT&T by 2.8% during the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after buying an additional 460 shares in the last quarter. Socha Financial Group LLC increased its stake in shares of AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares during the period. Garden State Investment Advisory Services LLC increased its stake in shares of AT&T by 1.4% during the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after buying an additional 468 shares during the period. Finally, Essex Savings Bank raised its holdings in shares of AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research reports. 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, January 16th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Citigroup upped their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Sanford C. Bernstein lifted their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.21.

AT&T Price Performance

NYSE T opened at $24.56 on Friday. The stock’s fifty day moving average price is $23.01 and its 200 day moving average price is $21.77. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market cap of $176.19 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 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.