Ignite Planners LLC Lowers Position in AT&T Inc. (NYSE:T)

Ignite Planners LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 13.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 71,318 shares of the technology company’s stock after selling 10,787 shares during the period. Ignite Planners LLC’s holdings in AT&T were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the period. Altshuler Shaham Ltd purchased a new position in AT&T during the second quarter valued at $30,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T in the third quarter valued at about $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of AT&T during the third quarter worth about $35,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T opened at $21.56 on Tuesday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a 50 day moving average price of $22.81 and a 200 day moving average price of $21.26. The stock has a market capitalization of $154.70 billion, a P/E ratio of 17.53, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.15%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. The Goldman Sachs Group raised their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Barclays raised their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Oppenheimer began coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.76.

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.