Keudell Morrison Wealth Management Decreases Stake in AT&T Inc. (NYSE:T)

Keudell Morrison Wealth Management lessened its position in shares of AT&T Inc. (NYSE:T) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,358 shares of the technology company’s stock after selling 3,075 shares during the period. Keudell Morrison Wealth Management’s holdings in AT&T were worth $2,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of AT&T during the 4th quarter worth approximately $14,700,000. Swiss National Bank lifted its position in AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Caprock Group LLC increased its position in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares in the last quarter. Finally, Talbot Financial LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at about $7,438,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE:T opened at $24.04 on Friday. The firm has a market capitalization of $172.46 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.67. The business’s 50 day simple moving average is $22.91 and its 200-day simple moving average is $21.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98.

AT&T (NYSE:T) last posted its earnings results 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%. As a group, equities analysts forecast that AT&T Inc. will post 2.12 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.62%. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

Wall Street Analysts Forecast Growth

Several research firms have commented on T. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, January 16th. Evercore ISI upped their price target 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. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer began coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.11.

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.