Armstrong Fleming & Moore Inc Decreases Stock Position in AT&T Inc. (NYSE:T)

Armstrong Fleming & Moore Inc trimmed its position in shares of AT&T Inc. (NYSE:T) by 4.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 46,329 shares of the technology company’s stock after selling 2,150 shares during the period. AT&T comprises approximately 0.6% of Armstrong Fleming & Moore Inc’s investment portfolio, making the stock its 28th largest position. Armstrong Fleming & Moore Inc’s holdings in AT&T were worth $1,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. International Assets Investment Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth approximately $14,700,000. Swiss National Bank boosted its stake in AT&T by 0.5% during 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 last quarter. Franklin Resources Inc. grew its holdings 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 acquiring an additional 2,326,904 shares in the last quarter. Consolidated Planning Corp raised its stake in shares of AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares in the last quarter. Finally, Caprock Group LLC raised its stake in shares of AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $26.65 on Wednesday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.16. The firm has a market capitalization of $191.26 billion, a PE ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.59. The company’s 50 day simple moving average is $23.65 and its 200 day simple moving average is $22.43. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. AT&T’s dividend payout ratio (DPR) is 74.50%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on T. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, January 16th. UBS Group boosted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group raised their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada lifted their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Oppenheimer began coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.33.

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.