Beacon Financial Advisory LLC Sells 60,367 Shares of AT&T Inc. (NYSE:T)

Beacon Financial Advisory LLC cut its holdings in AT&T Inc. (NYSE:T) by 67.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,646 shares of the technology company’s stock after selling 60,367 shares during the period. Beacon Financial Advisory LLC’s holdings in AT&T were worth $675,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in AT&T during the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of AT&T by 169.2% in the third 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 during the period. YANKCOM Partnership bought a new stake in AT&T during the 4th quarter valued at approximately $30,000. Endeavor Private Wealth Inc. acquired a new stake in AT&T in the 4th quarter valued at approximately $34,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of AT&T in the third quarter worth $35,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 0.9 %

NYSE T opened at $24.48 on Thursday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $175.63 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. The business’s 50-day moving average price is $22.97 and its two-hundred day moving average price is $21.73.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, analysts expect that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.53%. AT&T’s payout ratio is presently 74.50%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on T. Wells Fargo & Company decreased their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Tigress Financial upped their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. UBS Group boosted their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Oppenheimer initiated coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

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.