Sigma Planning Corp Trims Stock Position in AT&T Inc. (NYSE:T)

Sigma Planning Corp cut its stake in shares of AT&T Inc. (NYSE:T) by 2.5% during the fourth quarter, reports. The fund owned 431,043 shares of the technology company’s stock after selling 10,990 shares during the quarter. Sigma Planning Corp’s holdings in AT&T were worth $12,397,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of T. Voloridge Investment Management LLC increased its position in shares of AT&T by 850.8% during the third quarter. Voloridge Investment Management LLC now owns 12,181,178 shares of the technology company’s stock worth $347,285,000 after acquiring an additional 10,900,074 shares during the period. BlackRock Inc. increased its holdings in AT&T by 0.8% during the fourth quarter. BlackRock Inc. now owns 485,568,654 shares of the technology company’s stock valued at $13,964,955,000 after buying an additional 3,666,423 shares during the period. Morgan Stanley increased its holdings in AT&T by 2.2% during the third quarter. Morgan Stanley now owns 75,022,082 shares of the technology company’s stock valued at $2,138,879,000 after buying an additional 1,628,117 shares during the period. Kestra Advisory Services LLC purchased a new position in AT&T during the third quarter valued at approximately $40,784,000. Finally, Drexel Morgan & Co. increased its holdings in AT&T by 106.1% during the fourth quarter. Drexel Morgan & Co. now owns 2,604,212 shares of the technology company’s stock valued at $74,897,000 after buying an additional 1,340,421 shares during the period. 51.17% of the stock is currently owned by institutional investors and hedge funds.

T has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of AT&T from $36.00 to $31.00 in a research note on Monday, February 8th. CIBC reiterated a “buy” rating on shares of AT&T in a research note on Wednesday, February 10th. Royal Bank of Canada lowered their price objective on shares of AT&T from $32.00 to $30.00 in a research note on Monday, October 26th. National Bank Financial upgraded shares of AT&T to an “outperform” rating and lifted their price objective for the stock from $25.00 to $27.00 in a research note on Monday, November 9th. Finally, Zacks Investment Research upgraded shares of AT&T from a “sell” rating to a “hold” rating and set a $33.00 price objective for the company in a research note on Thursday, December 10th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.12.

NYSE:T traded down $0.02 on Tuesday, hitting $29.30. The stock had a trading volume of 944,727 shares, compared to its average volume of 42,973,785. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.78. The stock has a market cap of $208.79 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 3.04 and a beta of 0.70. The company has a fifty day moving average price of $28.98 and a two-hundred day moving average price of $28.89. AT&T Inc. has a 1-year low of $26.08 and a 1-year high of $38.51.

AT&T (NYSE:T) last posted its earnings results on Tuesday, January 26th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.02. The company had revenue of $45.70 billion for the quarter, compared to analyst estimates of $44.58 billion. AT&T had a net margin of 6.42% and a return on equity of 12.27%. AT&T’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. As a group, analysts anticipate that AT&T Inc. will post 3.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 1st. Stockholders of record on Monday, January 11th were issued a $0.52 dividend. The ex-dividend date was Friday, January 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.10%. AT&T’s dividend payout ratio is currently 58.26%.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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