Addenda Capital Inc. Lowers Holdings in AT&T Inc. (NYSE:T)

Addenda Capital Inc. trimmed its position in AT&T Inc. (NYSE:T) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,075 shares of the technology company’s stock after selling 928 shares during the period. Addenda Capital Inc.’s holdings in AT&T were worth $7,425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amplius Wealth Advisors LLC grew its position in AT&T by 8.4% in the 4th quarter. Amplius Wealth Advisors LLC now owns 12,882 shares of the technology company’s stock valued at $293,000 after buying an additional 994 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in AT&T by 24.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 17,124 shares of the technology company’s stock valued at $390,000 after acquiring an additional 3,384 shares during the period. Gemmer Asset Management LLC acquired a new stake in AT&T in the fourth quarter valued at $233,000. Union Savings Bank lifted its holdings in AT&T by 32.9% in the fourth quarter. Union Savings Bank now owns 15,688 shares of the technology company’s stock valued at $357,000 after acquiring an additional 3,881 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in AT&T by 3.1% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 50,397 shares of the technology company’s stock valued at $1,148,000 after acquiring an additional 1,527 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 1.2 %

Shares of NYSE:T opened at $22.30 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The company has a 50 day moving average of $22.79 and a two-hundred day moving average of $21.35. 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 3.50 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. As a group, analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

A number of research firms have commented on T. Citigroup raised their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. Oppenheimer assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Finally, Barclays boosted their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.