Midland Wealth Advisors LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

Midland Wealth Advisors LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,760 shares of the technology company’s stock after selling 2,574 shares during the period. Midland Wealth Advisors LLC’s holdings in AT&T were worth $769,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of T. International Assets Investment Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at approximately $14,700,000. Swiss National Bank grew its position in AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its position in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp increased its stake in AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after buying an additional 21,927 shares during the period. Finally, Caprock Group LLC raised its position in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after buying an additional 30,281 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein increased their target price on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank boosted their target price on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Price Performance

NYSE:T opened at $27.15 on Monday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97. The firm has a market cap of $194.85 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The company’s 50-day moving average is $24.30 and its two-hundred day moving average is $22.84. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last posted 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 net margin of 8.95% and a return on equity of 13.97%. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is currently 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.