Redwood Investment Management LLC Sells 11,370 Shares of AT&T Inc. (NYSE:T)

Redwood Investment Management LLC trimmed its stake in AT&T Inc. (NYSE:T) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,851 shares of the technology company’s stock after selling 11,370 shares during the period. Redwood Investment Management LLC’s holdings in AT&T were worth $2,046,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Cooper Financial Group lifted its holdings in AT&T by 14.5% in the fourth quarter. Cooper Financial Group now owns 22,223 shares of the technology company’s stock valued at $506,000 after buying an additional 2,813 shares during the period. FNY Investment Advisers LLC increased its holdings in AT&T by 4,346.7% in the fourth quarter. FNY Investment Advisers LLC now owns 13,340 shares of the technology company’s stock worth $303,000 after purchasing an additional 13,040 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of AT&T by 30.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 6,632 shares of the technology company’s stock valued at $151,000 after acquiring an additional 1,567 shares in the last quarter. 626 Financial LLC lifted its position in shares of AT&T by 1.9% during the 4th quarter. 626 Financial LLC now owns 33,310 shares of the technology company’s stock valued at $758,000 after acquiring an additional 614 shares during the period. Finally, Sovereign Financial Group Inc. boosted its stake in AT&T by 3.2% during the fourth quarter. Sovereign Financial Group Inc. now owns 51,854 shares of the technology company’s stock worth $1,181,000 after acquiring an additional 1,606 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.2%

NYSE:T opened at $26.49 on Thursday. 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 moving average price of $27.15 and a two-hundred day moving average price of $24.83. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a market cap of $190.61 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research reports. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. Evercore ISI raised their price objective on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. Finally, Barclays upped their target price on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $28.71.

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.