Brave Asset Management Inc. Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Brave Asset Management Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 15.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,693 shares of the technology company’s stock after selling 3,900 shares during the quarter. Brave Asset Management Inc.’s holdings in AT&T were worth $471,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Davidson Kempner Capital Management LP bought a new stake in AT&T in the second quarter worth $23,888,000. International Assets Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter worth about $14,700,000. Swiss National Bank lifted its stake in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its position in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. Finally, Caprock Group LLC increased its stake in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of T opened at $21.90 on Thursday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two 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. The stock has a market cap of $157.14 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. Analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.07%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer began coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $22.00 to $26.00 in a research note on Monday, January 6th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.76.

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.