Powers Advisory Group LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Powers Advisory Group LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,663 shares of the technology company’s stock after selling 1,527 shares during the period. Powers Advisory Group LLC’s holdings in AT&T were worth $288,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of T. Legacy Investment Solutions LLC acquired a new stake in AT&T in the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new position in shares of AT&T during the 4th quarter worth about $34,000. Safe Harbor Fiduciary LLC acquired a new position in shares of AT&T in the 3rd quarter valued at $35,000. Finally, Reston Wealth Management LLC purchased a new stake in AT&T during the third quarter valued at about $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $24.04 on Friday. The firm has a market capitalization of $172.46 billion, a PE ratio of 16.13, a PEG ratio of 2.81 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The company has a current ratio of 0.66, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The firm’s fifty day simple moving average is $22.89 and its 200 day simple moving average is $21.57.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts anticipate that AT&T Inc. will post 2.12 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.62%. AT&T’s dividend payout ratio is currently 74.50%.

Analysts Set New Price Targets

T has been the subject of several recent research reports. Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

About AT&T

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.