Portside Wealth Group LLC Sells 1,917 Shares of AT&T Inc. (NYSE:T)

Portside Wealth Group LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,027 shares of the technology company’s stock after selling 1,917 shares during the quarter. Portside Wealth Group LLC’s holdings in AT&T were worth $2,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in AT&T in the third quarter valued at about $35,000. Reston Wealth Management LLC acquired a new stake in AT&T in the third quarter worth about $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the second quarter worth about $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $22.30 on Friday. The company’s 50 day simple moving average is $22.79 and its 200-day simple moving average is $21.31. 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 Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The company has a market capitalization of $159.97 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued 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 yield of 4.98%. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on T. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Evercore ISI increased their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Sanford C. Bernstein started coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Argus raised shares of 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.