Geneos Wealth Management Inc. Cuts Stake in AT&T Inc. (NYSE:T)

Geneos Wealth Management Inc. cut its holdings in AT&T Inc. (NYSE:T) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,648 shares of the technology company’s stock after selling 5,364 shares during the period. Geneos Wealth Management Inc.’s holdings in AT&T were worth $2,588,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T in the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. bought a new position in shares of AT&T during the 4th quarter valued at about $34,000. Reston Wealth Management LLC purchased a new position in shares of AT&T during the third quarter valued at about $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T during the third quarter valued at about $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on T. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $22.00 to $26.00 in a research report on Monday, January 6th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, January 16th. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $28.00 in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Trading Up 0.7 %

NYSE:T opened at $22.69 on Friday. The stock has a market capitalization of $162.77 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a 50 day moving average of $22.80 and a 200 day moving average of $21.44.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping 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 firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the firm earned $0.64 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend yield of 4.89%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

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.