Silverlake Wealth Management LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Silverlake Wealth Management LLC decreased its position in AT&T Inc. (NYSE:T) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 61,214 shares of the technology company’s stock after selling 2,105 shares during the period. Silverlake Wealth Management LLC’s holdings in AT&T were worth $1,394,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in AT&T during the fourth quarter worth about $14,700,000. Swiss National Bank raised 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 valued at $468,217,000 after acquiring an additional 104,700 shares during the period. Franklin Resources Inc. increased its stake in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares during the period. Caprock Group LLC increased its stake in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after buying an additional 30,281 shares during the period. Finally, Talbot Financial LLC purchased a new stake in AT&T during the 3rd quarter worth approximately $7,438,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.0 %

Shares of NYSE:T opened at $24.26 on Wednesday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.98. The stock has a market cap of $174.05 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.71 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a fifty day moving average price of $22.94 and a 200 day moving average price of $21.70.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts predict that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.58%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Tigress Financial increased their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.21.

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.