Raleigh Capital Management Inc. Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Raleigh Capital Management Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 14.9% during the fourth quarter, HoldingsChannel reports. The firm owned 68,904 shares of the technology company’s stock after selling 12,054 shares during the quarter. Raleigh Capital Management Inc.’s holdings in AT&T were worth $1,569,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. Reston Wealth Management LLC acquired a new position in AT&T in the third quarter valued at $35,000. Safe Harbor Fiduciary LLC purchased a new stake in AT&T during the third quarter valued at about $35,000. Finally, Marquette Asset Management LLC acquired a new stake in AT&T during the third quarter worth about $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of several research analyst reports. Tigress Financial lifted their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada upgraded 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 note on Monday, January 6th. One 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Down 0.7 %

NYSE:T opened at $22.34 on Thursday. The company has a market cap of $160.30 billion, a PE ratio of 18.16, a P/E/G ratio of 3.53 and a beta of 0.59. The business’s 50 day moving average is $22.80 and its two-hundred day moving average is $21.40. 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.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $30.50 billion. During the same period last year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

AT&T 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.