Beacon Investment Advisors LLC Sells 1,987 Shares of AT&T Inc. (NYSE:T)

Beacon Investment Advisors LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,644 shares of the technology company’s stock after selling 1,987 shares during the period. Beacon Investment Advisors LLC’s holdings in AT&T were worth $516,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of T. Marshall Investment Management LLC purchased a new position in shares of AT&T in the 4th quarter worth $28,000. YANKCOM Partnership purchased a new position in AT&T in the fourth quarter worth about $30,000. Tradewinds Capital Management LLC grew its stake in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T during the 4th quarter valued at about $34,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of AT&T in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on T. 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 report on Thursday, January 16th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Monday, April 7th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Thursday. Tigress Financial increased their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Sanford C. Bernstein increased their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $27.24.

AT&T Stock Performance

Shares of AT&T stock opened at $27.12 on Monday. AT&T Inc. has a 12 month low of $16.17 and a 12 month high of $29.03. The stock’s fifty day moving average price is $26.84 and its 200-day moving average price is $24.17. The firm has a market cap of $194.67 billion, a P/E ratio of 18.20, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

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.