Focus Financial Network Inc. Sells 603 Shares of AT&T Inc. (NYSE:T)

Focus Financial Network Inc. lowered its stake in AT&T Inc. (NYSE:T) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,625 shares of the technology company’s stock after selling 603 shares during the period. Focus Financial Network Inc.’s holdings in AT&T were worth $447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC grew its position in AT&T by 15.4% in the fourth quarter. Summit Trail Advisors LLC now owns 196,060 shares of the technology company’s stock worth $4,464,000 after acquiring an additional 26,126 shares in the last quarter. Sapient Capital LLC grew its position in AT&T by 1.6% in the fourth quarter. Sapient Capital LLC now owns 37,561 shares of the technology company’s stock worth $855,000 after acquiring an additional 579 shares in the last quarter. Pineridge Advisors LLC grew its position in AT&T by 54.6% in the fourth quarter. Pineridge Advisors LLC now owns 5,953 shares of the technology company’s stock worth $136,000 after acquiring an additional 2,103 shares in the last quarter. International Private Wealth Advisors LLC boosted its position in shares of AT&T by 12.8% during the fourth quarter. International Private Wealth Advisors LLC now owns 23,218 shares of the technology company’s stock valued at $529,000 after buying an additional 2,640 shares during the period. Finally, Soltis Investment Advisors LLC boosted its position in shares of AT&T by 161.6% during the fourth quarter. Soltis Investment Advisors LLC now owns 40,556 shares of the technology company’s stock valued at $923,000 after buying an additional 25,052 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Scotiabank boosted their price target on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 28th. UBS Group increased their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $26.33.

AT&T Stock Performance

Shares of T opened at $25.63 on Friday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $25.74. The stock has a fifty day moving average price of $23.15 and a 200-day moving average price of $21.96. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market cap of $183.87 billion, a PE ratio of 17.20, a P/E/G ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts predict that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.33%. AT&T’s dividend payout ratio (DPR) is 74.50%.

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.