Dover Advisors LLC Cuts Stock Position in AT&T Inc. (NYSE:T)

Dover Advisors LLC lessened its holdings in AT&T Inc. (NYSE:T) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,920 shares of the technology company’s stock after selling 724 shares during the period. Dover Advisors LLC’s holdings in AT&T were worth $200,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Carmel Capital Partners LLC grew its holdings in AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares in the last quarter. Lipe & Dalton acquired a new stake in AT&T during the 3rd quarter valued at $30,000. Ramirez Asset Management Inc. acquired a new stake in AT&T during the 3rd quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. grew its holdings in AT&T by 3,202.4% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,626 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on T shares. Scotiabank raised their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday. Barclays raised their price target on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Tigress Financial raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Performance

T traded up $0.17 on Friday, hitting $16.75. 37,852,681 shares of the company’s stock were exchanged, compared to its average volume of 39,190,348. The firm has a market cap of $119.81 billion, a PE ratio of 9.01, a P/E/G ratio of 2.53 and a beta of 0.57. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16. The stock has a fifty day moving average of $16.96 and a two-hundred day moving average of $16.58. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. AT&T’s quarterly revenue was down .4% on a year-over-year basis. On average, research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.63%. AT&T’s payout ratio is currently 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.