AT&T Inc. (NYSE:T) Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. trimmed its stake in shares of AT&T Inc. (NYSE:T) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,011 shares of the technology company’s stock after selling 1,580 shares during the period. Verity Asset Management Inc.’s holdings in AT&T were worth $387,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Chesapeake Wealth Management grew its holdings in shares of AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after buying an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. raised its stake in AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC raised its position in shares of AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after buying an additional 461 shares during the period. Garden State Investment Advisory Services LLC boosted its holdings in AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after acquiring an additional 468 shares during the last quarter. Finally, Essex Savings Bank grew its position in AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 2.2 %

NYSE:T opened at $24.26 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a 50 day moving average of $22.92 and a 200-day moving average of $21.66. The firm has a market capitalization of $174.04 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts predict that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.58%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 74.50%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Oppenheimer began coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Sanford C. Bernstein upped their target price on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Citigroup boosted their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AT&T presently 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.