Meyer Handelman Co. Has $1.18 Million Stock Holdings in AT&T Inc. (NYSE:T)

Meyer Handelman Co. lowered its holdings in shares of AT&T Inc. (NYSE:T) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,852 shares of the technology company’s stock after selling 10,406 shares during the period. Meyer Handelman Co.’s holdings in AT&T were worth $1,181,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC grew its stake in shares of AT&T by 5,378.3% in the 2nd quarter. Quest Partners LLC now owns 3,780 shares of the technology company’s stock valued at $72,000 after buying an additional 3,711 shares during the period. Thoroughbred Financial Services LLC grew its stake in AT&T by 32.9% in the second quarter. Thoroughbred Financial Services LLC now owns 19,491 shares of the technology company’s stock valued at $372,000 after acquiring an additional 4,824 shares during the period. Brown Brothers Harriman & Co. grew its stake in AT&T by 32.6% in the second quarter. Brown Brothers Harriman & Co. now owns 113,685 shares of the technology company’s stock valued at $2,173,000 after acquiring an additional 27,970 shares during the period. Sierra Summit Advisors LLC increased its holdings in shares of AT&T by 32.5% during the second quarter. Sierra Summit Advisors LLC now owns 13,521 shares of the technology company’s stock valued at $258,000 after acquiring an additional 3,316 shares in the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of AT&T by 1,656.6% during the second quarter. Wulff Hansen & CO. now owns 216,344 shares of the technology company’s stock worth $4,134,000 after purchasing an additional 204,028 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

T has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. UBS Group boosted their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $22.00 to $26.00 in a research report on Monday, January 6th. Sanford C. Bernstein initiated coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Finally, Citigroup increased their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.76.

AT&T Stock Performance

Shares of T stock opened at $21.80 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market cap of $156.42 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 3.60 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The firm’s 50-day simple moving average is $22.80 and its two-hundred day simple moving average is $21.28.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 company 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 firm posted $0.64 EPS. AT&T’s revenue was down .5% on a year-over-year basis. As a group, equities analysts forecast that AT&T Inc. will post 2.19 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. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.09%. AT&T’s dividend payout ratio is presently 90.24%.

AT&T Company 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.