AT&T Inc. (NYSE:T) Shares Sold by ShoreHaven Wealth Partners LLC

ShoreHaven Wealth Partners LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 40.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,851 shares of the technology company’s stock after selling 5,923 shares during the quarter. ShoreHaven Wealth Partners LLC’s holdings in AT&T were worth $202,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. grew its holdings in shares of AT&T by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,439,725 shares of the technology company’s stock worth $78,632,000 after purchasing an additional 12,931 shares during the last quarter. Avestar Capital LLC boosted its position in shares of AT&T by 11.5% in the 4th quarter. Avestar Capital LLC now owns 41,124 shares of the technology company’s stock valued at $936,000 after purchasing an additional 4,232 shares during the period. Howard Bailey Securities LLC boosted its position in shares of AT&T by 14.9% in the 4th quarter. Howard Bailey Securities LLC now owns 11,844 shares of the technology company’s stock valued at $270,000 after purchasing an additional 1,536 shares during the period. Hemington Wealth Management grew its stake in AT&T by 11.5% during the 4th quarter. Hemington Wealth Management now owns 9,394 shares of the technology company’s stock worth $213,000 after buying an additional 970 shares during the last quarter. Finally, TFC Financial Management Inc. increased its position in AT&T by 44.8% during the fourth quarter. TFC Financial Management Inc. now owns 4,842 shares of the technology company’s stock worth $110,000 after buying an additional 1,499 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE:T opened at $25.63 on Friday. 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 fifty-two week low of $15.94 and a fifty-two week high of $25.74. The firm’s fifty day simple moving average is $23.15 and its 200-day simple moving average is $21.96. The stock has a market cap of $183.87 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on T. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Argus raised shares of 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. Citigroup upped their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, UBS Group increased their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.