Arnhold LLC Sells 149,627 Shares of AT&T Inc. (NYSE:T)

Arnhold LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,605,446 shares of the technology company’s stock after selling 149,627 shares during the period. AT&T makes up 3.6% of Arnhold LLC’s holdings, making the stock its 4th biggest holding. Arnhold LLC’s holdings in AT&T were worth $36,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in T. Marshall Investment Management LLC purchased a new position in AT&T during the 4th quarter valued at about $28,000. YANKCOM Partnership purchased a new position in shares of AT&T in the fourth quarter valued at approximately $30,000. Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares during the period. Endeavor Private Wealth Inc. acquired a new position in shares of AT&T in the fourth quarter valued at approximately $34,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in AT&T during the 4th quarter worth approximately $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on T. Morgan Stanley restated an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday. Sanford C. Bernstein boosted 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. Scotiabank increased their price target on AT&T from $29.00 to $29.50 and gave the company a “sector outperform” rating in a research report on Thursday. Evercore ISI boosted their price objective on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.48.

AT&T Trading Up 1.4 %

T opened at $27.56 on Friday. The firm has a market cap of $197.83 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 52 week low of $16.39 and a 52 week high of $29.03. The business’s 50 day moving average is $26.95 and its two-hundred day moving average is $24.28. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

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.