AT&T Inc. (NYSE:T) Position Lessened by Alta Capital Management LLC

Alta Capital Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 10.0% 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 187,981 shares of the technology company’s stock after selling 20,834 shares during the period. Alta Capital Management LLC’s holdings in AT&T were worth $4,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chicago Partners Investment Group LLC raised its holdings in AT&T by 8.2% during the third quarter. Chicago Partners Investment Group LLC now owns 56,156 shares of the technology company’s stock valued at $1,263,000 after buying an additional 4,244 shares in the last quarter. F M Investments LLC bought a new position in AT&T during the third quarter valued at about $223,000. Pure Financial Advisors LLC raised its holdings in AT&T by 11.7% during the third quarter. Pure Financial Advisors LLC now owns 20,463 shares of the technology company’s stock valued at $450,000 after buying an additional 2,148 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in AT&T during the third quarter valued at about $62,000. Finally, Confluence Wealth Services Inc. raised its holdings in AT&T by 4.7% during the third quarter. Confluence Wealth Services Inc. now owns 53,279 shares of the technology company’s stock valued at $1,172,000 after buying an additional 2,383 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 1.0 %

NYSE T opened at $27.69 on Tuesday. 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 stock’s 50 day moving average is $24.01 and its two-hundred day moving average is $22.64. The company has a market capitalization of $198.76 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 3.00 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.86.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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%. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is 74.50%.

Analysts Set New Price Targets

Several research firms have weighed in on T. Scotiabank raised their target price on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a report on Monday. Tigress Financial raised their target price on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, January 16th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Finally, UBS Group raised their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.45.

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.