Dakota Wealth Management Sells 1,773 Shares of AT&T Inc. (NYSE:T)

Dakota Wealth Management lowered its stake in shares of AT&T Inc. (NYSE:T) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 67,444 shares of the technology company’s stock after selling 1,773 shares during the quarter. Dakota Wealth Management’s holdings in AT&T were worth $1,536,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in AT&T during the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings 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 acquiring an additional 841 shares during the period. Reston Wealth Management LLC purchased a new position in AT&T during the 3rd quarter valued at $35,000. Safe Harbor Fiduciary LLC purchased a new position in AT&T during the 3rd quarter valued at $35,000. Finally, Marquette Asset Management LLC purchased a new position in AT&T during the 3rd quarter valued at $36,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.9 %

Shares of T stock opened at $22.51 on Friday. The stock has a 50 day moving average of $22.80 and a 200 day moving average of $21.40. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a market cap of $161.54 billion, a P/E ratio of 18.30, a P/E/G ratio of 3.53 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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%. AT&T’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. As a group, sell-side analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.93%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

T has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Citigroup upped their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

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.