Logan Capital Management Inc. Sells 17,544 Shares of AT&T Inc. (NYSE:T)

Logan Capital Management Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 827,325 shares of the technology company’s stock after selling 17,544 shares during the period. Logan Capital Management Inc.’s holdings in AT&T were worth $18,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of T. 1620 Investment Advisors Inc. raised its position in shares of AT&T by 1.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock worth $596,000 after buying an additional 421 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares in the last quarter. BNP Paribas increased its holdings in shares of AT&T by 1.0% in the 4th quarter. BNP Paribas now owns 41,716 shares of the technology company’s stock worth $942,000 after buying an additional 430 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of AT&T by 0.7% during the 4th quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock worth $1,352,000 after acquiring an additional 433 shares during the last quarter. Finally, Wealthstream Advisors Inc. increased its stake in AT&T by 3.7% in the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock valued at $282,000 after acquiring an additional 444 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on T. Scotiabank reissued an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer lifted their price target on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Wells Fargo & Company boosted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, January 16th. Finally, TD Securities boosted their target price on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Up 1.5%

T opened at $27.88 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $200.61 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 52 week low of $17.11 and a 52 week high of $29.03. The firm has a 50-day simple moving average of $27.15 and a two-hundred day simple moving average of $24.77.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.98%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

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.