Abound Wealth Management Decreases Stake in AT&T Inc. (NYSE:T)

Abound Wealth Management cut its holdings in shares of AT&T Inc. (NYSE:T) by 36.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494 shares of the technology company’s stock after selling 862 shares during the period. Abound Wealth Management’s holdings in AT&T were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of T. Geode Capital Management LLC grew its holdings in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. FMR LLC lifted its position in shares of AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Legal & General Group Plc grew its stake in AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in AT&T by 2.5% during the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after buying an additional 675,082 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 0.7 %

NYSE T traded down $0.16 during trading on Monday, reaching $21.53. 21,267,919 shares of the company’s stock were exchanged, compared to its average volume of 31,898,717. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The company’s fifty day simple moving average is $22.81 and its 200-day simple moving average is $21.24. The firm has a market capitalization of $154.48 billion, a PE ratio of 17.50, a P/E/G ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last issued its 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. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Sell-side analysts predict that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.16%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Sanford C. Bernstein initiated coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Citigroup boosted their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AT&T 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.