Abbrea Capital LLC Trims Position in AT&T Inc. (NYSE:T)

Abbrea Capital LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 22.6% during the 4th quarter, Holdings Channel reports. The fund owned 22,464 shares of the technology company’s stock after selling 6,570 shares during the period. Abbrea Capital LLC’s holdings in AT&T were worth $377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares during the period. JB Capital LLC raised its holdings in AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after buying an additional 614 shares during the period. Schubert & Co raised its holdings in AT&T by 2.0% in the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock valued at $486,000 after buying an additional 631 shares during the period. Roof Eidam Maycock Peralta LLC raised its holdings in AT&T by 6.3% in the 3rd quarter. Roof Eidam Maycock Peralta LLC now owns 11,226 shares of the technology company’s stock valued at $169,000 after buying an additional 666 shares during the period. Finally, MBM Wealth Consultants LLC raised its holdings in AT&T by 4.5% in the 4th quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock valued at $270,000 after buying an additional 678 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Tigress Financial boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday, March 5th. Scotiabank boosted their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Stock Down 1.4 %

T traded down $0.23 on Thursday, reaching $16.58. The company’s stock had a trading volume of 46,652,863 shares, compared to its average volume of 39,434,164. The stock has a 50 day moving average of $16.98 and a two-hundred day moving average of $16.54. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $118.59 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 2.49 and a beta of 0.57. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is currently 56.63%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.