Manchester Financial Inc. Sells 426 Shares of AT&T Inc. (NYSE:T)

Manchester Financial Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,746 shares of the technology company’s stock after selling 426 shares during the period. Manchester Financial Inc.’s holdings in AT&T were worth $267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in T. AMF Tjanstepension AB raised its holdings in AT&T by 305.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after acquiring an additional 1,161,152 shares during the period. Creative Planning boosted its holdings in shares of AT&T by 2.8% during the third quarter. Creative Planning now owns 1,564,777 shares of the technology company’s stock worth $34,413,000 after acquiring an additional 43,218 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of AT&T in the third quarter valued at approximately $262,000. Opal Wealth Advisors LLC increased its stake in shares of AT&T by 53.9% during the third quarter. Opal Wealth Advisors LLC now owns 11,294 shares of the technology company’s stock worth $248,000 after purchasing an additional 3,955 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its holdings in AT&T by 2.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 54,411 shares of the technology company’s stock worth $1,197,000 after purchasing an additional 1,466 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $28.00 in a report on Monday, December 16th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Tigress Financial raised their target price on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.33.

AT&T Price Performance

Shares of T stock opened at $25.63 on Friday. The business has a fifty day simple moving average of $23.15 and a 200 day simple moving average of $21.96. The company has a market cap of $183.87 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.79 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $25.74.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS 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, sell-side analysts forecast that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is 74.50%.

AT&T Company 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.