Kingswood Wealth Advisors LLC Trims Stake in AT&T Inc. (NYSE:T)

Kingswood Wealth Advisors LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 68.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,198 shares of the technology company’s stock after selling 96,654 shares during the period. Kingswood Wealth Advisors LLC’s holdings in AT&T were worth $1,006,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of T. Legacy Investment Solutions LLC bought a new position in shares of AT&T in the third quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. bought a new position in shares of AT&T during the fourth quarter worth $34,000. Reston Wealth Management LLC bought a new position in shares of AT&T during the third quarter worth $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of AT&T during the third quarter worth $35,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research reports. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Oppenheimer began coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. UBS Group increased their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Scotiabank increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.06.

AT&T Stock Performance

T opened at $24.43 on Wednesday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.58. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $175.26 billion, a PE ratio of 19.86, a P/E/G ratio of 3.50 and a beta of 0.59. The firm has a 50 day moving average of $22.83 and a two-hundred day moving average of $21.51.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced 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. This represents a $1.11 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 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.