Alpha Cubed Investments LLC Decreases Holdings in AT&T Inc. (NYSE:T)

Alpha Cubed Investments LLC lowered its position in AT&T Inc. (NYSE:T) by 13.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,056 shares of the technology company’s stock after selling 3,540 shares during the period. Alpha Cubed Investments LLC’s holdings in AT&T were worth $525,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in AT&T by 4.7% in the second quarter. Thrivent Financial for Lutherans now owns 475,114 shares of the technology company’s stock worth $9,080,000 after buying an additional 21,233 shares in the last quarter. ProShare Advisors LLC raised its stake in AT&T by 8.4% during the 2nd quarter. ProShare Advisors LLC now owns 1,008,133 shares of the technology company’s stock worth $19,265,000 after acquiring an additional 77,932 shares during the period. Gabelli Funds LLC lifted its holdings in AT&T by 5.4% during the second quarter. Gabelli Funds LLC now owns 350,900 shares of the technology company’s stock valued at $6,706,000 after purchasing an additional 18,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of AT&T by 55.8% in the second quarter. EverSource Wealth Advisors LLC now owns 26,376 shares of the technology company’s stock worth $508,000 after purchasing an additional 9,446 shares during the period. Finally, Certified Advisory Corp increased its stake in shares of AT&T by 1.9% in the second quarter. Certified Advisory Corp now owns 29,367 shares of the technology company’s stock worth $561,000 after purchasing an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Tigress Financial lifted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, January 16th. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Finally, 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 report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Trading Up 0.9 %

Shares of T stock opened at $22.49 on Wednesday. The company has a market cap of $161.40 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The stock’s 50 day simple moving average is $22.79 and its two-hundred day simple moving average is $21.37. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

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 issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.93%. AT&T’s 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.