Lebenthal Global Advisors LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

Lebenthal Global Advisors LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,548 shares of the technology company’s stock after selling 1,000 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in AT&T were worth $263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Chesapeake Wealth Management grew its stake in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after acquiring an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. boosted its holdings in AT&T by 2.8% in the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC grew its position in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC increased its holdings in shares of AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after purchasing an additional 468 shares during the period. Finally, Essex Savings Bank raised its position in shares of AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after buying an additional 480 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on T shares. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada lifted their target price on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday. Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Barclays lifted their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $26.06.

AT&T Stock Up 1.2 %

Shares of AT&T stock opened at $24.43 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.58. The company’s 50 day moving average price is $22.83 and its 200-day moving average price is $21.51. The stock has a market capitalization of $175.26 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Equities research analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

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.