AT&T Inc. (NYSE:T) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. trimmed its stake in shares of AT&T Inc. (NYSE:T) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,903 shares of the technology company’s stock after selling 908 shares during the quarter. Institute for Wealth Management LLC.’s holdings in AT&T were worth $954,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in AT&T during the 4th quarter valued at $14,700,000. Swiss National Bank lifted its position in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares during the last quarter. Caprock Group LLC lifted its position in shares of AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after buying an additional 30,281 shares during the last quarter. Finally, Talbot Financial LLC bought a new position in shares of AT&T in the 3rd quarter worth about $7,438,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T Stock Down 1.2 %

AT&T stock opened at $23.74 on Friday. The stock has a market cap of $170.34 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 2.81 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The company’s 50-day moving average price is $22.91 and its two-hundred day moving average price is $21.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, analysts expect that AT&T Inc. will post 2.12 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.68%. AT&T’s dividend payout ratio is currently 74.50%.

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.