Fortitude Family Office LLC Sells 1,640 Shares of AT&T Inc. (NYSE:T)

Fortitude Family Office LLC trimmed its stake in AT&T Inc. (NYSE:T) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,016 shares of the technology company’s stock after selling 1,640 shares during the period. Fortitude Family Office LLC’s holdings in AT&T were worth $1,321,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Davidson Kempner Capital Management LP bought a new position in AT&T in the second quarter worth $23,888,000. Swiss National Bank increased its stake in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares in the last quarter. International Assets Investment Management LLC bought a new stake in AT&T during the fourth quarter worth about $14,700,000. Finally, Caprock Group LLC boosted its stake in AT&T by 18.3% during the third 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. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T opened at $22.20 on Friday. The firm has a market capitalization of $159.29 billion, a P/E ratio of 18.05, a PEG ratio of 3.60 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The business has a fifty day moving average of $22.82 and a 200 day moving average of $21.18.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the company posted $0.64 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.00%. AT&T’s payout ratio is presently 90.24%.

Analysts Set New Price Targets

T has been the topic of a number of analyst reports. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $22.00 to $26.00 in a research report on Monday. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Barclays raised their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.76.

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.