Romano Brothers AND Company Sells 1,634 Shares of AT&T Inc. (NYSE:T)

Romano Brothers AND Company cut its position in AT&T Inc. (NYSE:T) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,435 shares of the technology company’s stock after selling 1,634 shares during the quarter. Romano Brothers AND Company’s holdings in AT&T were worth $4,222,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Davidson Kempner Capital Management LP bought a new position in AT&T in the 2nd quarter worth approximately $23,888,000. International Assets Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter worth $14,700,000. Swiss National Bank increased its position in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after acquiring an additional 104,700 shares during the period. Franklin Resources Inc. raised 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 valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Finally, Caprock Group LLC boosted its holdings in 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 during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on T. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Oppenheimer started coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Citigroup raised their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Price Performance

AT&T stock opened at $22.30 on Friday. The business’s 50-day simple moving average is $22.79 and its 200 day simple moving average is $21.31. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $159.97 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the business posted $0.64 earnings per share. AT&T’s revenue was down .5% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. AT&T’s dividend payout ratio 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.