Allen Capital Group LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

Allen Capital Group LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 9.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,470 shares of the technology company’s stock after selling 1,326 shares during the quarter. Allen Capital Group LLC’s holdings in AT&T were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Carmel Capital Partners LLC boosted its holdings in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton bought a new position in AT&T in the 3rd quarter valued at $30,000. Ramirez Asset Management Inc. bought a new position in AT&T in the 3rd quarter valued at $30,000. FWL Investment Management LLC bought a new position in AT&T in the 4th quarter valued at $31,000. Finally, Financial Freedom LLC bought a new position in AT&T in the 4th quarter valued at $34,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Finally, StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.68.

AT&T Stock Performance

AT&T stock opened at $16.09 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $115.09 billion, a PE ratio of 8.21, a P/E/G ratio of 2.45 and a beta of 0.57. The firm has a fifty day simple moving average of $17.04 and a two-hundred day simple moving average of $16.48. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.92.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. AT&T’s revenue was up 2.2% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is 56.63%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.