Bridgewater Advisors Inc. Trims Holdings in AT&T Inc. (NYSE:T)

Bridgewater Advisors Inc. reduced its holdings in shares of AT&T Inc. (NYSE:T) by 9.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 32,176 shares of the technology company’s stock after selling 3,309 shares during the period. Bridgewater Advisors Inc.’s holdings in AT&T were worth $701,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Chesapeake Wealth Management lifted its stake in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares in the last quarter. Socha Financial Group LLC increased its holdings in AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC raised its position in shares of AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after purchasing an additional 468 shares in the last quarter. Essex Savings Bank boosted its stake in shares of AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after buying an additional 480 shares during the last quarter. Finally, Hayek Kallen Investment Management grew its position in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 1.2 %

Shares of NYSE T opened at $22.30 on Monday. The firm has a market capitalization of $159.97 billion, a PE ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $22.79 and a two-hundred day moving average price of $21.33.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Sanford C. Bernstein started coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Barclays lifted their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

AT&T 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.