Gradient Investments LLC Sells 1,082 Shares of AT&T Inc. (NYSE:T)

Gradient Investments LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,613 shares of the technology company’s stock after selling 1,082 shares during the quarter. Gradient Investments LLC’s holdings in AT&T were worth $515,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of AT&T during the 4th quarter valued at approximately $14,700,000. Swiss National Bank lifted its position in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Caprock Group LLC increased its holdings in shares of 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 buying an additional 30,281 shares during the last quarter. Finally, Talbot Financial LLC bought a new position in shares of AT&T in the 3rd quarter valued at about $7,438,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.7 %

Shares of T stock opened at $22.69 on Friday. The stock’s fifty day moving average price is $22.80 and its 200 day moving average price is $21.44. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The company has a market cap of $162.77 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. AT&T’s payout ratio is currently 90.24%.

Analyst Ratings Changes

T has been the topic of a number of recent research reports. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Sanford C. Bernstein assumed coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

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.